Interactive map: See where homes now sell below asking price in Triangle NC area
The spring housing market is still ultra-competitive, but the dynamic is slowly shifting in the Triangle.
Higher mortgage rates and flattening prices are giving buyers a little more leverage, say experts. Properties are staying listed for longer, and inventory is creeping up.
The interactive map below shows where homes in the Triangle region sell for above and below the listing prices, a key metric for homebuyers seeking out deals. The data, compiled by Redfin, shows most ZIP codes across the Triangle saw homes selling anywhere from 1% to 2% under the listing price in March.
Some highlights:
- The ZIP code 27559 in Moncure shows the biggest difference in sale-to-listing price. The average sale price there was roughly 14.96% lower.
- The ZIP code 27605 clocked the second biggest difference at 7.38% below listing price. This area includes Forest Park, formerly known as Cameron Park, a historic Raleigh neighborhood off Hillsborough Street.
- Other communities where homes are selling below the listing price include ZIP codes 27601 and 27610 (Raleigh) and 27603 and 27529 (Garner).
Bottom line: There’s more opportunity in the market right now for first-time home buyers than a year ago, Cory Sherman, a real estate broker with Durham-based Home Grown Real Estate, told The N&O.
- “For the last two years, we’ve had a lot of first-time homebuyers who couldn’t compete because they needed so much money to go over asking price. Or the due diligence fee was tens of thousands of dollars. That pressure has eased,” he told The N&O. “We’re still seeing some multiple offers. We’re still seeing houses sell over the asking price, but way fewer and far between.”
This story was originally published April 19, 2023 at 7:00 AM with the headline "Interactive map: See where homes now sell below asking price in Triangle NC area."
