Most Recent Triangle Real Estate Market Trends Press Release
Press Release Triangle MLS, Inc. Market Trends for March 2018
Raleigh, NC: The Triangle Multiple Listing Service (TMLS) reports the following information pertaining to the housing industry in the greater Triangle region during March 2018. The data shown reflects information on properties located in the 16 counties of the greater Triangle Region. The percentage changes are comparisons with the prior year unless otherwise noted. New listings in the Triangle region decreased 7.8 percent to 4,875. Under Contract Sales were up 2.2 percent to 4,160. Inventory of homes for sale fell 14.8 percent to 7,305 units. Closed sales decreased 3.0 percent to 3,341. Prices continued to gain traction. The Median Sales Price increased 9.3 percent to $264,995. Days on Market was down 11.9 percent to 37 days. Sellers were encouraged as Months Supply of Inventory was down 18.5 percent to 2.2 months. The Year to Date Housing Affordability Index was at 117, which is 10.1 percent lower than March 2017. This index measures housing affordability for the region. An index of 120 means the median household income was 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.