Triangle Real Estate News

Triangle interest rates below 4%!

I just learned from Julie Straub with FM Lending that 5-1 Arms are under 3%.  I could not believe it.  Here are the most update rates:

                        Weekly Interest Rate Update

30 year rates are holding steady at under 4% which is also tremendous.  This is a great time to buy.  Inventory is excellent and interest rates could not be better.

Here is our local market update:

Chapel Hill

• Closed sales are up 14% over 2009.
• The median sales price is up 2.3%.
• The average sales price is down 2.5%.
• The list to sales price ratio is 96.6%.
• The average days on market have increased 12.9%, from 97 to 110 days.

Durham

• Closed sales are on par with last year, they are neither up or down.
• The median sales prie is down 2.3%.
• Average prices are down 4.5%.
• The list to sales price ratio is 96.5%
• Average days on market are the same at 87 days.