On April 20, 2023, The Wall Street Journal reported that the national housing market experienced its biggest annual decline in 11 years, leading to a challenging start for the spring selling season with a decrease in home sales. The real estate market in the Triangle MLS service area seems to be doing better compared to the national market.
In March 2023, the median home sales price in this region increased to $388,330, which is higher than the median prices in January ($385,150) and February ($385,000) of the same year. Even though the average home sales price decreased to $438,848 in February from its high of $449,654 in January, it went back up to $446,535 in March. I predict that the pricing will continue to rise throughout the spring market.
It seems that the Triangle's housing market is challenging the national trend, and homebuyers and sellers in the area may continue to see a strong market in the coming months.
In this evolving housing market, it's important to stay up-to-date on the local trends. Carl Johnson, a proactive and knowledgeable REALTOR, will help with local knowledge of the market and ensure a successful outcome for all clients. If you're thinking about buying or selling a home, don't hesitate to reach out to Carl Johnson Real Estate today at 919-880-0904. CLICK HERE to schedule a free consultation!