Triangel Real Estate Market is Picking Up!!

The Triangle Market is starting to pick up with the Summer Season upon us. Really 2007 has been a great year overall so far. It was like a Light Switch turned on Jan1, 2007. It has been fairly Strong overall this year, but there has certainly been a pickup in Showings and Contracts starting in April. This is a good sign for Sellers as the Summer Market is upon us. May Through August is typically the hottest time of the year for the Triangle. Great Weather, School is out in some places, Out of Towners taking Vacations here, Familys growing, and time to move up or buy the first house are all contributers to this hot market time of year.

Useful information: (Wake County - Raleigh and Cary inclusive)

1Q 2007 - Homes Closed: 4326

Current Homes Active: 6971

Currently in Wake County there are "4.8" months worth of homes on the market. This is called the absorbtion rate of home on the market. How fast will the supply of homes be absorbed into the market. We are still in a Sellers Market (anything less than 6 months). A Buyers market is anything more than 6 months.

Hope this helps out in understanding the Triangle and Wake County market place

Wake County Real Estate Statistics

The Current Wake County Real Estate Stats going into 2007 is:

Currently Active Homes: 6105
Sold the last 30 days: 1304
Sold in the last 3 months: 4448
Sold in the last 6 months: 10452
Sold in the 12 months: 20561

Current Market Abosorbtion Rate: 4.7 months supply of home in the Wake County Market.

Factors contrubuting to this time frame: Holidays (Christmas, Thanksgiving, New Years)
The Market will start to pick up steam in Late January / Early February.

Sellers Market - less than 6 months supply
Balanced Market - 6 months supply
Buyers Market - more than 6 months supply

So, It is still a Sellers market in the cold months.

If you have any questions, please feel free to call or email

bwray@wrayenterprises.com
919-880--4188

Wake County Real Estate Market

Visit our website at www.Triangle-NC.com for up to date Real Estate News.

Welcome

I want to welcome you to our new Blog. We will be adding new content here ever two weeks or sooner. This Blog is focused on the ever changing real estate market in the Wake County NC Area. Cities Include: Raleigh, Cary, Apex, Holly Springs, Fuquay Varina, Willow Springs, Wake Forest, Wendell, Garner, Knightdale, and Morrisville. Will will also from time to time be posting information regarding the Johnston and Harnett County Markets. If you have any questions regarding our service, please feel free to give us a call or email us. Our Contact information can be found at our home page at www.triangle-nc.com.