Triangle Area Real Estate Market Update for May 2010

Sales in 2010 were off to a great start but have slowed considerably since the end of the home buyer tax credit is April.  Overall, year-to-date, the market has improved but with the slow down since the end of April, it is difficult to say what the market will bring for the remainder of the year.

Year-to-date, in the Triangle Area (Raleigh/Durham/Chapel Hill:

  • New listings are up 12.8%;
  • Closed sales are up 18.8%;
  • Median prices are down 0.9%;
  • Average prices are down 1.1%;
  • The list to sales price ratio is 96.4%; and
  • Average Days on market is 103.

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