Triangle Home Sales & Showings Down in 2011

A recent report in the News & Observer shows that first quarter home sales for the Triangle market are down 8% compared to the same quarter 2010.

There were 3,041 homes sold during the first three months of the year in Durham, Johnston, Orange and Wake counties, Triangle Multiple Listing Services data show.

That was down 8 percent from the same period a year ago. Showings for the quarter were down 20 percent and pending sales were off 30 percent.

The average days on the market for the homes that did sell rose from 102 days to 125 days.

Read more from Triangle home sales down 8 percent in first quarter.

The good news is that the number of listings on the market has dropped. I was afraid that we might see more listings this spring but as it stands right now. Inventory is down to just under 9 months from other reports I have seen.

The time to buy really is now, now joke. All of the numbers favor buyers and our office is busy with new clients. As a matter of fact, we had 244 leads come through our office last week!