Local Market Updates
* Updated by the 15th each month for prior month
FEBRUARY 2023 Market Reports
The Triangle Multiple Listing Service (TMLS) reports the following information pertaining to the greater Triangle region's housing industry during February 2023. The data shown reflects information on properties located in the 16 counties of the greater Triangle Region. The percentage changes are comparisons with the prior year unless otherwise noted.
New Listings in the Triangle region were down 12.5 percent to 2,980. Under
Contract Sales were down 0.4 percent to 3,261. Inventory levels went up 136.4percent to 4,959 units. Closed sales were down 18.2 percent to 2,431.
The Median Sales Price increased by 2.7 percent to $385,000. Days on Market was up 147.1 percent to 42 days. Sellers were encouraged as Months' Supply of Inventory was up 220 percent to 1.6 months.
The Year-to-Date Housing Affordability Index was at 82, which is 24.8 percent less than February 2022. This index measures housing affordability for the region.An index of 120 means the median household income was 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number indicates greater affordability.