-Don’t miss the latest real estate market update video. Highlights include:
What is going on with the real estate market (in Raleigh, Cary and Durham)?
– Homes for sale: 1341. 37% new construction.
– Homes under contract: 1900. 42% new construction.
– Homes sold and closed: 811. 14% new construction.
– More new construction options are coming available as supply chains ease.
– Sales are pacing behind July 2022. 1324 homes closed last year. Very low Inventory levels and reduced demand due to higher interest rates have impacted sales this year.
– According to Black Knight, a mortgage data company, 60% of mortgage holders have interest rates of less than 4%. This is making people reluctant to move for the higher rates. Today rates are closer to 7%.
– Higher rates challenge affordability. However, if you can figure out a way to make it work, do it. There is less competition in the market today. The lower the rates go, more buyers will enter the market and it will become even more competitive. Even with the higher rates, according to the National Association of Realtors, homes are averaging 3.3 offers.
What is going on with Liz Toth Properties?
– New listing in Encore at Wendell Falls! Encore is an amazing community in a great location! Close to shops, restaurants, parks, recreation and less than 20 miles to downtown Raleigh!
– The community has it’s own clubhouse, pool, tennis, pickleball and fire pits. There are trails around the community lake and sidewalks throughout the neighborhood.
– 821 Still Willow Lane is listed for $545,000. It has 3 bedrooms plus a flex space on one level. There’s walk up storage over the garage, a gourmet kitchen and zero entry shower.
– Open House Sunday at 821 Still Willow! Stop in for a tour between 1pm and 3pm. Or send anyone by who might be interested in this beautiful home and amazing community.
– Click here to see a virtual tour: https://www.youtube.com/watch?v=e6TknvJ-N9E&t=33s
– Click here for more details: https://www.liztothproperties.com/property/31-2522627-821-still-willow-lane-NC-27591
Thank you for your support!
– 18 months ago, I started a YouTube channel called Welcome to Raleigh to help buyers and sellers in the Triangle. We recently had over 10,000 views!
– Thank you for supporting my channel! Please subscribe if you haven’t already, and share it with friends and family who have real estate needs!
Liz Toth is a dedicated residential real estate agent with EXP Realty, and can help you through the process of buying or selling a home.
✨ View my community guide: https://liztothcommunityguide.com/
🔎 Search for 🏡 homes: http://liztothproperties.com/
📲 Follow on Facebook: https://www.facebook.com/liztothrealtor/
👉 Follow on Instagram: https://instagram.com/ltothrealtor/
Phone: 919-538-1784
Email: Liz@LizTothProperties.com
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