We are excited to release The Triangle 2017 Mid-Year Nest Report. At Nest, we pride ourselves on being experts in our local marketplace. That means we understand the importance of analyzing market data to develop a comprehensive understanding of current and future trends. Our goal is to equip our clients to make confident, informed real estate decisions when the time arises.
The Triangle real estate market continues to lead the state of North Carolina as one of the most active and sought after places to live. High demand for affordable properties in conjunction with limited inventory has bolstered property values significantly compared to normal appreciation trends in years past. This trend is most noticeable in the conventional loan market, whereas the jumbo loan market does tend to function somewhat differently.
Nonetheless, sellers have firm control in our current market and we are regularly seeing multiple offer scenarios that result in sales prices rising significantly above asking in some instances. Appraisal issues have been prevalent in our market this year, so sellers are encouraged to price at market value based on verifiable data, then allow buyers to bid the price up based on demand. In recent weeks, there has been some indication that demand may be leveling off slightly as we approach the second half of the year, however, we still anticipate a very strong performance in our fall market as we close out what has been a banner year for the Triangle.
For a more in-depth look at how the Triangle real estate market by area in the first half of 2017, read the full Triangle 2017 Mid-Year Nest Report here. Have questions? Contact your Nest broker today to find out what this report means for you.