Triangle home sales rise 22%


Home sales in the Triangle were up nearly 22 percent in August compared to the year prior with average home sale prices also rising more than 3 percent, according to a report from the Triangle Multiple Listing Services

The Triangle region report, which includes new and existing home sales in Wake, Durham, Orange and Johnston counties, shows that sales were up in August with 2,406 home sales recorded, compared to 1,978 home sales in August 2011.

The average sale price of a home in the region reached $234,039, up from an average home price of $226,460 in the year prior.

The report also shows that the inventory supply of homes available for sale has also dropped 25 percent in the past year with only a seven-month supply of inventory available in August compared to a nearly 11-month supply of inventory in August 2011.

Year to date, home sales in the Triangle region are up 18.4 percent compared to the year prior.

Source TBJ

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