The Triangle Multiple Listing Service (TMLS) reports the following information pertaining to the housing industry in the greater Triangle region during January 2019. The data shown reflects information on properties located in the 16 counties of the greater Triangle Region. The percentage changes are comparisons with the prior year unless otherwise noted.
New listings in the Triangle region increased 10.3 percent to 3,783. Under Contract Sales were up 15 percent to 3,315. Inventory of homes for sale rose 3.9 percent to 7,631 units. Closed sales decreased 7.3 percent to 2,013.
Prices continued to gain traction. The Median Sales Price increased 3.9 percent to $259,800. Days on Market remained flat at 40 days. Buyers felt empowered as Months Supply of Inventory was up 4.5 percent to 2.3 months.
The Year to Date Housing Affordability Index was at 118, which is 8.1 percent lower than January 2018. This index measures housing affordability for the region. An index of 120 means the median household income was 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.
Full Market Status are available through Triangle MLS.