January 2010 Raleigh, Durham, Chapel Hill Real Estate Market Update

2010 has gotten off to a good start.  I am seeing a lot of activity in the market.  In the Triangle overall, 21% of the current inventory is under contract.

Currently, and compared to January 2009:

  • New listings are down 4.7%;
  • Closed sales for the month of January are up 6.4%;
  • Median prices are up 2.6%;
  • Average prices are down. 0.4%;
  • The list to sales price ratio remained the same at 95.8%; and
  • Days on market increased from 102 to 109.

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