Here's your local real estate market recap for the Triangle region of NC courtesy of our local REALTOR® association.

Infographic reflects statistics from March 2022 to March 2023.

I'd like to highlight inventory has picked up 28.7%

Fun fact: Inventory, "active listings," and "homes for sale" all refer to the same thing, a measure of how many properties are available at a given time.

It is calculated by counting the number of active and pending listings on the last day of the month.

A higher inventory means more choices for buyers and renters and less pressure on prices.

However, inventory is still very low compared to historical averages.

The month to months supply, which shows how long it would take to sell all the currently available homes at the current sales prices, is only 1.2 months, well below what is considered a "balanced" level of 6 months.

This means it is far from meeting high buyer demand and is still a "seller market."

Buyers and renters should act fast if they find a property that suits their needs and budget.

For more information and guidance on your journey to buying or selling real estate, visit us at hivemindrealty.net

J. Le Hardy

Real estate consultant

HIVE MIND REALTY

Chapel Hill, NC

Published April 14'th, 2023