Triangle Real Estate Market Trends thru April 2013

The Triangle MLS reports that in April the Triangle continued showing a strong Spring Real Estate Market.

Its all good news for the Real Estate Market through April 2013.

Closed Sales through April were up 37% on the same period last year, keeping the upward trend while the pending sales (those under contract and not yet closed) were up 36% on April figures for 2012.

New Listings increased 17% with the same period last year and the total inventory levels diminished by 12.1%. Housing prices continued improving in April and the average sales price rose by 3.5% to $231,914. The days on the market decreased by 107 days from the same time last year which is the shortest period of time since September 2010 when the federal tax credits were stimulating sales.

The Housing Affordability Index was also up 3.2% in comparison with last year set at 199. The index measures affordability which means the household income increased more than was necessary to qualify for the median-priced home under the current interest rates.

 Ray Larcher, President of the Triangle MLS said "“While new listings increased in April over last year inventory remains low which is creating bidding wars in popular areas and price ranges.”  He continued “Despite the competitive landscape for buyers, housing remains one of the brightest lights in an otherwise subdued economic recovery”

This is all good news for the Real Estate Market in the Triangle. If you are possibly considering purchasing a home or would just like to have a look what is available, please check the areas below or visit our website http://www.homesearchincary.com/ .

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