John Stearns / WBJ
Staff Writer-Triangle Business Journal
Home sales in the Triangle continued its trajectory upward in August with a 19 percent increase in sales and a nearly 8 percent recovery in median sales price from the year prior, according to the most recent monthly report from Triangle Multiple Listing Service.
The median home sale price in August was $207,000, which is up from $202,559 in July and up from $192,000 in August of 2012.
The average home sale price in August was up 4.2 percent to $243,345 compared to the year prior.
The Triangle MLS data include sales of both new and existing homes.
The number of unit sales was up 19.4 percent to 2,895 closed sales in August compared to the year prior, but the inventory of homes available for sale continues to drop. In August, only 13,727 homes were listed on MLS, a decline of 8.7 percent, which accounts for about 5.9 months of supply at the current rate of sales.
Year to date, the Triangle housing market’s unit sales are up 26 percent, and average home prices are up 3.9 percent.