Triangle MLS, Inc. Releases April 2010 Real Estate Figures

The Triangle Multiple Listing Service, Inc. (TMLS) announced that closed sales in April were up 32% over April 2009 and year to date (Jan, Feb, March and April) was up 16% for the greater Triangle area. This is an obvious reflection that the federal tax credit stimulus that ended April 30 had a positive impact on sales for the month. In addition, pending sales (homes under contract, but not yet closed) for the month were also up over last year by 25% and this should reflect in higher closed sales in May this year exceeding May of 2009.

On another positive note, the average days on the market for closings in April decreased to 98 days as compared to 103 days in April 2009. The average sales price of an existing home was $215,000 for homes located in Durham, Johnson, Orange and Wake Counties in April and this represents a nine percent (9%) increase compared to April 2009. The average sales price during the month for all homes in the four-county market was $230,000 which is a six percent (6%) decrease compared to a year ago.

Other figures for the quarter include 4,249 new listings entered into the system during the month, which represents a 25 percent increase compared to new listings entered into the system during April 2009. Listings where the status was changed from active to withdrawn decreased by 8 percent, and listings where the status was changed from active to expired increased by 5 percent, both compared to 12 months ago.

There were 80,596 showings within the four-county market areas during April 2010, which reflects a 12 percent increase over the same period in 2009. There were 1,805 listings taken off the market during the month with a status changed to pending, contingent or closed, an increase of 2 percent compared to 12 months ago. The four-county market also finished the month with 1,880 closed sales, an increase of 33 percent compared to April 2009.

The current supply of all housing within the four main counties is 7 months based upon closings last month, as compared to 9 months in April 2009.

Individual counties had the following activity in April (percentage change figures stated are compared to 2009):

•Wake – Closings were up 41.1 percent, and the median sales price was up 5.1 percent. The median number of days on the market was 100, and the median sales price/list price ratio was 97.4 percent.

•Durham – Closings were up 13.8 percent, and the median sales price was off 3.5 percent. The median number of days on the market was 85, and the median sales price/list price ratio was 96.7 percent.

•Orange – Closings were up 86.9 percent, and the median sales price was off 7.7 percent. The median number of days on the market was 98, and the median sales price/list price ratio was 96.4 percent.

•Johnston – Closings were up 0.5 percent, and the median sales price was off 2.7 percent. The median number of days on the market was 102, and the median sales price/list price ratio was 97.0 percent.

About Triangle MLS, Inc.:
Triangle MLS, Inc. (TMLS) is a regional multiple listing service with a jurisdiction covering 16 counties in the greater Triangle region of North Carolina. TMLS provides a wide variety of valuable products, programs, and services for over 8,000 REALTORS® and appraisers. TMLS equips subscribers with tools to facilitate the home buying and selling process, encourages cooperation and efficiency between REALTORS®, and provides a single repository of property information in the Triangle region. Access to the multiple listing service (MLS) database maintained by TMLS gives subscribers access to over 20,000 active property listings at any one time. In addition, subscribers have the ability to retrieve historical property data and photographs from over 700,000 listings entered in the MLS since 1995. Through participation in TMLS, subscribers also gain access to additional products, programs, and services designed to help them build their real estate business and assist their clients. TMLS strives for accuracy and excellence by enforcing adherence to the organization's rules, regulations, policies, and bylaws which support industry professionalism, brings order and efficiencies to the real estate market place, and enhances cooperation between participants. TMLS is a wholly owned subsidiary corporation of the Raleigh Regional Association of REALTORS®. For more information, visit www.TriangleMLS.com.

Michelle Fowler
MMI Public Relations
(919) 233-6600
michelle@mmipublicrelations.com
http://twitter.com/MMIPR
www.mmipublicrelations.com

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