2022 Mid-Year Real Estate Market Trends Report
Written by Rick Gregory
Posted: July 28, 2022 by Elsa Woods
The Triangle and Triad real estate markets remain robust. While volatility in the stock/bond markets, rising mortgage interest rates and overall inflationary environment have clearly tempered the frenzied activity that characterized both Triad and Triangle markets for all of 2021 and early 2022, the real estate market thus far has remained a sellers’ market driven by a low overall number of homes available for sale.
Specifically, in the Triangle, the average sales price has now achieved $408,250 which is up 21.4% when compared to the first 5 months of 2021. Year to date (through the end of May) closed sales are down 2.2% and new listings are down 2.1% when compared to the same time frame of 2021.
The Triad has seen similar results. The average sales price for the first 5 months achieved $269,900 which is up 22.7% when compared to 2021, closed sales were down 3.7% and new listings increased by 1%.
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