Triangle home sales soar in June
Now may be a great time to sell or invest in real estate in Raleigh-Durham as the local housing market currently appears to be on an upswing. According to the Triangle Business Journal, area home sales in June were up nearly 19 percent compared to the previous year. Furthermore, the median sales price was up 3 percent compared to last year.
MLS listings in Raleigh-Durham show that the number of homes sold in Durham, Orange and Wake counties increased from 2,179 home sales in June 2011 to 2,607 during the same month in 2012. The publication reveals the median sales price of a home sold in the area last month was $198,718 and a house remained on the market for an average of 115 days before being sold. This is also a slight decrease from the previous year's figure - 118 days.
Local real estate experts are saying that the volume of sales in the area has increased this spring and summer compared to last year, and that homes are moving off the market faster than expected. This might be a sign of a more stabilized house market in the year to come, as well as yet another reason to invest in Triangle homes.