Welcome to October! The beautiful Fall season is upon us! We hope you are getting out and enjoying all it has to offer with the beautiful scenery and crisp air!
According to MLS data, the 12-month home sales average price is up about 4% compared to the previous period with an average price of about $322,902.
Despite the price rise, according to the Housing Affordability Index, homes in the Triangle are slightly more affordable this year compared to last year. In June 2020, the index was 119, compared to an index of 111 over the same period in 2019. An index that is higher equates to greater affordability. The pandemic has also led to a rise in virtual buying. According to a recent report by Redfin, 45% of recent home buyers made an offer without first seeing it in-person.
If you or family/friends are looking to explore what Raleigh and the surrounding areas have to offer, please reach out. We are here to answer questions and keep you informed of what is happening in the area.
We hope you and your loved ones are doing well. As always please feel free to let us know how you’re doing. Please stay positive, safe and healthy!
We will continue to get through this together!