Home sales slump across Triangle. This interactive map shows impact on home values.
The median home price in the Triangle stood at $385,000 in February — with no change month-over-month — but that’s still up 2.7% compared to the same time last year, according to the latest data from Triangle MLS.
And while inventory remains on the rise — a whopping 136.4% higher year-over-year — home sales are down across the region by 18.2%, the report said.
Homes are also staying on the market for longer. In February, it was 42 days, up from 17 last year — a 136.4% jump. With more homes on the market and less competition, analysts say it gives more bargaining power to buyers after two-plus years of sky-high home prices.
A new interactive map, powered by data from national real estate firm Zillow, shows the average home value for most ZIP codes in Raleigh, Durham and the greater Triangle.
Among the highlights:
- The most expensive ZIP code in Raleigh was 27608, covering the Five Points and Oberlin communities north of downtown. Average home values there stood at $872,077 as of March 2023, up 6.02% year-over-year.
- Behind that was the 27514 ZIP code, which is part of the town of Chapel Hill, with home values of $697,897, up 7.64% year-over-year.
- Rounding out the top three: ZIP Code 27605, which and includes Forest Park, formerly Cameron Park, a historic neighborhood off Hillsborough Street. Home values there stood at $671,793, up almost 3.2% year-over-year.
This story was originally published March 29, 2023 at 12:26 PM with the headline "Home sales slump across Triangle. This interactive map shows impact on home values.."
