We have seen the pandemic affect our local housing market, however it may not be in the way you would have expected; “ready” and motivated buyers have been abundant these last few months. According to our latest Triangle MLS statistics, the Triangle area housing inventory was down an average of 30% April 2020 from April 2019. Our inventory began to slightly improve by June but was still down 20% compared to one year ago. Interest rates remain at record lows and some new construction has fallen behind schedule due to Covid and an unusually wet spring. This has caused our market to remain deep in a seller’s market with multiple offer situations and sales prices ending up way above list prices, especially in the lower price points. Our southwest end of the county saw an increase of units sold Q2 2020 across the board compared to Q2 of 2019. Our inventory remains super low at about one month’s supply, or less, across all areas and all price points.

See the 2nd Q 2020 market snapshot of the local housing inventory HERE. If you were thinking of selling your home this year but wanted to wait until the immediate threats of Coronavirus are over, the new COMING SOON status would be a perfect fit for you. Read more HERE to find out how COMING SOON can get your home “on the market” safely.

We are here to help you, your relatives, co-workers, employees, and neighbors. Please consider Front Porch Realty YOUR LOCAL real estate professionals! Please LIKE US on Facebook and Instagram if you haven’t already, and please Send us a message, or give us a call today and let us help you get moving too!