Comparing Last Year to This Year
Here is a quick market update for the Triangle and surrounding areas..
Today we want to reflect on October 2020 and compare the data to October 2021.
In October 2020, there were 5,200 active homes on the market. This October, we only had 3,200. With this drop in inventory, demand and the average price have both increased. In October 2020, our average price in the Triangle was $350,000. In October 2021, it was $415,000. The average number of days on market has had the same trend. In 2020, the average number of days on market was 20 days; we are now at 10 days.
If you're a seller, now is a great opportunity to take advantage of the appreciation in the market. You can cash out and put more money towards your next home or keep some in your pocket. Text SAVVY to 21000 to find out the value of your home. If you’re a buyer, we’re starting to see inventory increase slowly, and interest rates are still spectacularly low.
If you’re in the market looking to buy or sell a home, we would love to have that conversation with you. Reach us at 919-578-3128 or visit AColeRealty.com. We look forward to hearing from you.