“After months of declines, the inventory of homes for sale nationwide is beginning to increase as more sellers come to the market, looking to capitalize on record-high sales prices while providing a much-need boost of supply to America’s epic housing shortage. This is encouraging news for home buyers, who have struggled with a lack of supply and rocketing sales prices during the pandemic. For the 12-month period spanning August 2020 through July 2021, Under Contract Sales in Triangle area were up 11.7 percent overall. The price range with the largest gain in sales was the $309,000 or More range, where they increased 35.9 percent.

The overall Median Sales Price was up 12.1 percent to $319,500. The property type with the largest price gain was the Single Family Homes segment, where prices increased 13.3 percent to $339,900. The price range that tended to sell the quickest was the $199,000 to $308,999 range at 12 days; the price range that tended to sell the slowest was the $136,999 or Less range at 30 days.

Market-wide, inventory levels were down 53.2 percent. The property type that lost the least inventory was the Townhouse-Condo segment, where it decreased 51.1 percent. That amounts to 0.7 months supply for Single Family homes and 0.6 months supply for Townhouse-Condo.”