Is it Time to Sell Your Home?
According to the The Triangle Multiple Listing Service (TMLS) report in the greater Triangle region for June, 2013, June closed sales with 3062 transactions, 14.9% higher than the same period last year and with homes under contract for the same period last year, increasing by 26%. A great indication that it may be time to sell your home!
The Triangle MLS also reported that New Listings increased by more than 12% with 3852 units in June, while in total the Triangle region New Listings in the Triangle region increased over 12 percent to 3852 units for June. Total inventory levels shrank by 10.2 percent in June to 14,294 units from 15,917 units in June of 2012. The months supply of available inventory shrank by 28.3 percent leaving only a 6.4 months supply. Housing prices continued to improve in June with Median Sales Price up 1.6 percent to $202,445 and Average Sales Price is up 2.7 percent to $245,901. Days on Market decreased 16.5 percent to 95 days compared to June 2012."
The Housing Affordability Index was at 175, which is 7 percent lower than last year. 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.
Rachel Wiest, Vice President of Operations, Triangle MLS, Inc. said, “We are happy to see the housing market continue to be strong.”
“With the stronger market, some previously frustrated sellers may return to the market place to help replenish neighborhoods with new listings,” Rachel Wiest concluded.
With all this good news and inventory low, it would certainly be a good time to sell your home. If you have been sitting on the fence you may want to give me a call or email me Don@DonJohnsonRealty.com and lets discuss the way forward. Click here to check what properties are selling for in your neighborhood.
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