Home sales and buyer demand rose in October

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October proved to be another good month for the Triangle real estate scene. According to updates from the Triangle Multiple Listing Services, the total number of homes sold throughout the area increased 3.8 percent over last October with 2,796 homes sold. The median home sales price in October was $217,384, a 6.6 percent increase over the same period last year.

A recent Triangle Business Journal provided further real estate market data reporting:

“The change in median home sales prices across the Triangle region has been on upward trajectory since January, and the sales activity for new and existing homes in October indicates that trend won’t be turning anytime soon. …

On a weighted six-month average scale, looking at the change in median sales price compared to prior year, median price growth in October was around 5.5 percent, up from a less than 1 percent growth rate recorded in January.

The market’s average sale price was up 5 percent to $255,219.

In breaking the numbers down even further in the counties:

  • Wake County home sales are up 5.1 percent to 1,608 units, and its median price point was up 7.6 percent to $249,900;
  • Durham County home sales are down 4.6 percent compared to October the year prior with 310 unit sales. Durham’s median price point was up 3.7 percent to $188,750; …”

Read the complete Triangle Business Journal article entitled “Triangle home sales, demand climb in October” here.

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