June 2016 Market Indicators

The housing market continues with steady growth. According to market indicators reported by Triangle MLS, New Listings in the Triangle region increased 8.8 percent to 4,613 (compared to June 2015) and Under Contract Sales were up 14.2 percent to 3,720. Inventory levels fell 17.3 percent to 8,888 units. The Median Sales Price increased 5.8 percent to $245,000. Days on Market was down 20.4 percent to 43 days and Months Supply of Inventory was down 25 percent to 3.0 months.

For the first six months of 2016, it’s been a good market for sellers: Triangle home prices have increased while Days on the Market have decreased. New listing have remained fairly steady since March; however, a slight decrease in Under Contract sales has resulted in Available Inventory and Months Supply of Inventory levels creeping upwards.

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