March Greater Triangle Market Report 2025

In February, the Greater Triangle Region experienced a remarkable 7.5% increase in new listings year-to-date, with an average sales price of $464,031. It’s important to highlight that this trend reflects a sustained demand in the area, driven by its thriving economy and desirable location.

Although Chatham County saw a decline in new listings, it still performed strongly, with a median sales price of $672,500 and an average sales price of $758,527. Despite a decrease in new listings, Chatham County’s median and average sales prices remaining high, indicates that demand is still strong and the the market is still resilient.

Durham experienced a remarkable 7.2% increase in new listings in February. While closed sales saw a decline, the median sales price surged by 7.5%, reaching $425,000, and the average sales price rose by 12%, now sitting at $478,971. This suggests that while there may have been fewer transactions, the demand for homes remains strong, with buyers willing to pay higher prices.

February wasn't a standout month for sales or listings in Orange County. However, the Housing Affordability Index saw a 4.4% increase, and the inventory of homes for sale rose by 18.3%. This suggests that while the overall market activity may have slowed, affordability is improving, and there is a noticeable increase in available inventory, which could indicate more options for potential buyers moving forward.

Person County saw an impressive surge in new listings, with a 32.3% increase in February. The median sales price rose slightly by 0.3%, reaching $300,000, while the average sales price saw a more substantial 3.3% increase, now sitting at $322,419. This indicates a significant boost in market activity, with more homes becoming available, while prices remain on the rise, albeit at a more moderate pace. It shows a healthy, growing market with a mix of inventory expansion and price appreciation.

In February, Wake County saw a modest 0.4% increase in new listings. While closed sales remained flat, the median sales price rose by 1.7%, reaching $455,000. The average sales price experienced a significant 3.1% increase, now standing at $556,936. This suggests that while the volume of transactions didn’t increase, prices continued to climb, reflecting strong demand and the area's desirability. The rise in both median and average sales prices points to a competitive market.

Hiring a realtor can be a game-changer during the home-buying process. Realtors offer valuable insights into local market trends, property values, and the intricacies of paperwork. Their expert negotiation skills can help you secure the best price and terms, while their experience with inspections, financing, and legal matters ensures a smoother, less stressful transaction. In essence, a realtor serves as a trusted advisor, saving you time, reducing uncertainty, and helping you make more confident, informed decisions every step of the way.

Working with an experienced REALTOR like Carl Johnson, who has extensive knowledge of the Greater Triangle area, brings invaluable negotiation expertise to the table. Whether you're buying or selling in Durham, Chapel Hill, Carrboro, or elsewhere in the Greater Triangle, Carl’s in-depth understanding of the local market ensures you receive top-tier service. And don’t forget, we also operate along the Crystal Coast of NC. From handling counteroffers to securing the most favorable terms, Carl’s negotiation skills will have a significant impact on the success of your transaction. By trusting Carl, you gain a dedicated advocate committed to securing the best possible outcome for you.
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