A Look at the 2017 Zebulon and Triangle Real Estate Scene

Whether you are buying a new home or selling (or both), one thing is for sure: the Triangle real estate market is hot right now.

Triangle home sellers have been in a good position all year, though it’s been a tough year for buyers, at least in some price ranges. According to the Triangle MLS, the entire Triangle region has seen an increase in the average sales price of a house and the number of new listings.

Homes in the Triangle area are selling at a historically fast rate. Meanwhile, the supply of homes for sale continues to decrease. Specifically, the number of homes under $400,000 are low on inventory. Overall, the average sale price of homes in the Triangle area is $287,278.

That price hit the $300,000 mark in June — a first for the Triangle. Wake County, especially, is experiencing a high influx of people, which, of course, affects their need for homes. One expert likened a house to the last loaf of bread during a snowstorm, with multiple people clamoring. Trulia identified Raleigh as No. 3 on its list of 10 housing markets among the 100 largest U.S. markets poised for growth.

Some other interesting notes from the TMLS report:

  • 98 percent of sellers received the original list price (or more)
  • Homes were on the market an average of 44 days
  • The Triangle has more than 7,000 homes for sale this year, down from 2016
  • According to one report, in Wake County, 653 new subdivisions have been approved in the past seven years

Experts agree the Wake County housing market is not just a bubble, but it will slow down. Still, those seeking homes in the next year should expect competition from other buyers.

Weaver’s Pond has homes available in the $200s and $300s, or you can contact us to build your custom home and not have to worry about fighting other buyers!

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