Understanding the Triangle’s Current Real Estate Landscape

Let’s go over what the current Triangle Area real estate market is doing.


With inventory hitting historic lows and the population in the Triangle area steadily growing, prospective buyers and sellers alike are facing a unique set of challenges and opportunities.


Since 2007, the population in the Triangle has surged by an impressive 110%, while inventory has plummeted by 76% compared to its peak in 2008. This scarcity in housing options has persisted, with inventory down by 4% from this time last year, marking eight consecutive years of undersupply.


Despite the dwindling inventory, average prices have skyrocketed by 76% since 2018, prompting many to wonder whether it’s the right time to enter the market, either as buyers or sellers.


For potential buyers, the prospect of navigating high prices and potentially steep interest rates can be daunting. However, with strategic planning, there are avenues to explore. Opting for a shorter-term mortgage or considering an adjustable rate mortgage could yield more favorable rates. Despite the pressure on prices to rise due to low inventory, the long-term benefits of homeownership, including wealth accumulation, remain compelling.

“In this real estate market, it’s crucial to understand the dynamics at play before making any significant decisions.”

On the other hand, for those contemplating selling, the current market presents an opportunity to capitalize on low inventory and potentially secure top dollar for their property, especially if there is substantial equity built. However, the decision to sell must be weighed against the consideration of finding suitable housing alternatives, particularly if one is hesitant to let go of a low-interest rate mortgage.


It’s essential for both buyers and sellers to conduct a thorough analysis of their financial situation and long-term goals before taking the plunge. Questions such as whether it’s feasible to purchase a new property outright or if a new loan would result in lower payments demand careful consideration.


In such a complex market environment, seeking guidance from real estate professionals can provide invaluable insights and clarity. Whether you’re contemplating buying or selling, don’t hesitate to reach out to us by phone or email for assistance in navigating these crucial decisions.