Cool spring housing market? This interactive map shows home values by ZIP code
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The median home price in the Triangle stands at $387,000 in March — just .5% more month-over-month. But that’s down 2% compared to the same time last year, according to the latest data from Triangle MLS.
Inventory remains on the rise — up a whopping 97.5% higher year-over-year — and home sales are down across the region by 6.5%, the report said, with homes staying on the market for longer. In March, it was 36 days, up from 13 last year.
With more homes on the market and less competition, analysts say buyers have more bargaining power after two-plus years of sky-high home prices.
However, buyers shouldn’t expect to find deals everywhere, analysts caution.
“We’ve got so many submarkets here,” Stacey Anfindsen, an Apex appraiser who analyzes MLS data, told The News & Observer this week. “We still have multiple offers in certain submarkets and houses selling above list price, but it’s nowhere near the percentages they were in the first and second quarter of last year.”
A new interactive map, powered by data from national real estate firm Zillow, shows the median 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 $893,618, as of March 2023, up 4.84% year-over-year.
Behind that was the 27514 ZIP code, which is part of the town of Chapel Hill, with home values of $712,739, up 5.82% year-over-year.
Rounding out the top three: ZIP code 27605, which includes Forest Park, formerly Cameron Park, a historic neighborhood off Hillsborough Street. Home values there stood at $686,736, up almost 1.89% year-over-year.
This story was originally published May 4, 2023 at 8:00 AM with the headline "Cool spring housing market? This interactive map shows home values by ZIP code."
