I’m not sure if you have been as curious as I have been for the January reports to be out, but they are here and the numbers are still very impressive. Double digit increases in equity continue to happen all across the Triangle region. Let’s dive in!

The entire TMLS saw an overall increase of 24.2% in the year over year January numbers. Coming in at a median sales price of $370,000* compared to January of 2021. So to put that in perspective, if you bought a $300,000 home last January, today you could feasibly list that same home for $370,000. Does that impress anyone else? 😳

Let’s keep going. In Wake County, which is one of the larger counties serviced by the TMLS, the average sales price* jumped up to $491,441, a 21% increase from 2022. While in Johnston Countythe median sales price went up 30%! JoCo also saw a 1.5% increase in percent of list price received* with homes selling at 101.7%.

Harnett County seems to have the most inventory with a whopping 0.7 month supply, while most of the other larger counties have about a 0.5 month supply. Wake County has only a 0.3 month supply and that has resulted in homes selling at an average of 3.3% over original list price. Another great reason to be sure and price those listings properly and not try to over inflate due to the low inventory crisis.

Durham County had an impressive 28.2% increase in median sales price and saw a significant drop in days on market from 22 days on market down to 13 days on market. I’m happy to report my median days on market is 3. 🙏😉

Also important to note for Durham County is the not surprising increase to $405,757 in average sales price and a 5.2% increase in closed sales from last year.

Overall, inventory levels are still low. Days on market are still low. Average sales price is up. Percentage of list price received is up. If you have thought about selling, right about now would be great. Call us today! We can help navigate the current trends and help you maximize your investment while the market is hot. 🔥