After years of sharp price increases following the pandemic, the Triangle’s real estate market appears to have settled into a new equilibrium.
Why it matters: For the past three years, median Triangle home prices have hovered around $425,000, after interest rates lifted off historic lows and homes stopped attracting the multiple offers that drove up prices in the frenzied parts of the early 2020s.
State of play: Homes in the most desirable locations still attract multiple offers, local real estate professionals say. But overall, the number of homes for sale has grown significantly in the past year, and the median home now takes more than a month to sell…