RALEIGH – How can home buyers best navigate the Triangle real estate market right now? “Be ready to strike,” says one real estate agent.
Seth Gold, a REALTOR licensed real estate agent and broker with Bold Real Estate and Governors Club Realty who specializes in homes in Chatham County and across the Triangle, talks about what buyers might expect moving forward in August and through the rest of the year, said
“It’s still a hot market, with low inventory, and lots of people moving here,” said Gold. So while it might be easier to negotiate, as homes may now sell for list price, close to list price, or below list price due to slowing price appreciation, buyer will still need to be ready, willing, and able to make offers when they find a property that will suit their needs.
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“Be ready to strike,” advised Gold. “Get pre-approved, and ready to make an offer.”
And there are signs that more housing inventory is coming on the market, including in the data from TMLS.
Tony Fink, a licensed real estate agent and REALTOR with Linda Craft & Team REALTORS, tells WRAL TechWire that the available inventory between July 1 and August 1 went up by nearly 1,000 homes. And a lot of that is due to the region’s new construction industry, said Fink, though not exclusively.
Still, though, said Fink, the homes that are highly desirable will have high levels of showing activity, and will get multiple strong offers.
“Right now, we’re having a balancing of that supply and demand curve, but there are still more buyers than there are homes,” said Fink. The result will be, said Fink, “the plateauing of price growth, but not reduction of home values.”
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