The Triad real estate market is not unlike other areas of the state and the nation. We are also experiencing an inventory challenge. However, there are many buyers searching from that perfect place and mortgage rates are still low, albeit we are seeing slight increases. Below is the most recent data from the Triad MLS. As you can see, the market is very strong right now. If you'd like more detailed information please do not hesitate to ask.
February 2021 - (Median) Triad MLS
-Median Sales Price - $200,000 - this is down from a high median sales price in August 2020 of $212,500 and will be interesting to see how this changes after this spring and summer marketplace.
-Closed transactions - 20% increase YoY
-Current Days on Market - 6 - this depends on price ranges. For example, over $700,000 might take a little longer than $175,000-$350,000 where we are seeing less than 24 hours with multiple offers.
-List Price to Sales Price - 100% - we've been at 100% since July 2020. In a lot of the cases, we are seeing over asking price and very high due diligences. For example, we have heard about a $50,000 DD check on a $250,000 house. Now this is NOT the norm and is an anomaly but the point is we can help structure a strategy for success.
Buyers can still find the right property for them. We have been very successful in using our network to connect the dots and generate options for people. There have been challenging real estate markets in the past so put our experiences to work!
