Market Trends for February 2019

Numbers & Statistics from Triangle MLS, Inc.

Published Wednesday, March 6, 2019 8:00 am
by Raleigh Regional Association of REALTORSŪ


The Triangle Multiple Listing Service (TMLS) reports the following information pertaining to the housing industry in the greater Triangle region during February 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 decreased 8.8 percent to 3,643. Under Contract Sales were up 2.9 percent to 3,43. Inventory of homes for sale were down 0.5 percent to 7,532 units. Closed sales increased 13.2 percent to 2,585. Prices continued to gain traction. The Median Sales Price increased 2.3 percent to $266,000. Days on Market was up 7.3 percent to 44 days. Sellers were encouraged as Months Supply of Inventory was down 4.3 percent to 2.2

months. The Year to Date Housing Affordability Index was at 116, which is 3.3 percent lower than February 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 Stats are available through Triangle MLS

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