March Market Report for the Triangle

Triangle Market Report for March 2016

Units Sold

• Units Sold-2,729
  • Up from Last Year
    • There was an increase in total units sold in March, with 2,729 sold this month in The Triangle Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory

• Active Inventory-7,057
  • Down 18% from Last Year
    • Versus last year, the total number of homes available this month is lower by 1,595 units or 18%. The total number of active inventory this March was 7,057 compared to 8,652 in March 2015. This month's total of 7,057 is higher than the previous month's total supply of available inventory of 7,011, an increase of 1%.

Median Sale Price

• Median Sale Price-$232,000
  • Up 4% from Last Year
    • Last March, the median sale price for The Triangle Homes was $224,000. This March, the median sale price was $232,000, an increase of 4% or $8,000 compared to last year. The current median sold price is 3% higher than in February.

New Listings

• New Listings-4,465
  • Up 6% from Last Year
• Current Contracts-3,792
  • Up 19% from Last Year
    • This month there were 4,465 homes newly listed for sale in The Triangle compared to 4,198 in March 2015, an increase of 6%. There were 3,792 current contracts pending sale this March compared to 3,183 a year ago. The number of current contracts is 19% higher than last March.

Sold VS List Price

• Sold vs. List Price-98.7%
  • Up .5% from Last Year
    • In March, the average sale price in The Triangle was 98.7% of the average list price, which is 0.5% higher than at this time last year.

Months of Supply

• Months of Supply-2.6
  • Down 22% from Last Year
    • In March, there was 2.6 months of supply available in The Triangle, compared to 3.3 in March 2015. That is a decrease of 22% versus a year ago.

Days on Market

• Days on Market-43
  • Down 13% from Last Year
    • This month, the average number of days on market was 63, lower than the average last year, which was 72, a decrease of 13%.