Triad Monthly Market Update – March 2017

Here’s your monthly real estate update for our area for February 2017.  Remember the data lags by one month so March’s report shows activity for the preceding month – February!

The real estate market continues to build momentum as we head into Spring.  Take a look at this…

• The number of properties that closed in February was up 12% YTD vs 2016! Over the last 12 months, resale closed properties have increased by 15.4% with the average price improving by 3.5%.
• The total number of active listings, whether looking at the overall market or just new construction, are down by 35% vs 2015.
• By comparing active listings to total sales during the last 12 months there is currently a 4.1 month supply of inventory, both overall and for newly built homes.

I hope you find this information useful!  Stay tuned for next month’s report…