If you’re watching the Triangle housing market closely, something interesting is happening.
We’re seeing signs of increased buyer activity and it’s showing up earlier in the year than usual.
Looking at the latest Cary, Apex, and Morrisville MLS data, several indicators suggest the market is gaining momentum, not overheated, but active, even before the traditional spring surge.
Let’s look at what the numbers are telling us.
Inventory Has Grown, But So Has Activity
Over the past year, available inventory has increased significantly.
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Inventory of homes for sale is up roughly 60%+ year over year
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Months of supply has moved from about 1.3–1.9 months to roughly 2.0–2.9 months depending on the month measured
That’s a meaningful shift away from the ultra-tight conditions of the past few years.
Normally, more inventory would slow the market. Instead, we’re seeing closed sales rising too.
Year-to-date closed sales are up between 6–8% depending on the reporting period.
That tells us buyers didn’t disappear, they were waiting.
New Listings Are Up, But They’re Getting Absorbed
New listings are running more than 20% higher year-to-date compared to last year.
That gives buyers more choices, which we’re also seeing reflected in:
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Slightly longer days on market
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Slightly lower list-to-sale ratios
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More negotiation room
But absorption is still happening. Homes that are priced well and prepared well are still moving.
This is not a frozen market, it’s a more selective one.
Prices Are Holding More Stable Than Headlines Suggest
Despite higher inventory and longer days on market, prices have remained relatively steady overall.
From the year-to-date figures:
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Median prices are roughly flat to slightly up
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Average prices are slightly up
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Total dollar volume is up around 9% year-to-date
That points to stabilization, not a sharp correction in this part of the Triangle.
Affordability Has Quietly Improved
One metric that often gets overlooked is the Housing Affordability Index, which has improved modestly year over year in the local reports.
Combined with periods of lower mortgage rates earlier this cycle and more seller concessions, some buyers who were sidelined are re-engaging.
That lines up with what many agents are seeing on the ground:
more showings, more financing conversations, more “we’re starting to look again.”
Why This Matters, Timing Signals
Real estate markets tend to move in phases:
1️⃣ Rates move
2️⃣ Buyer inquiries rise
3️⃣ Showings increase
4️⃣ Contracts follow
5️⃣ Closings show up in the data later
We’re currently seeing phase 2 and 3 behavior picking up earlier than normal seasonal patterns.
That doesn’t guarantee a hot spring, but it does suggest a more active one than many expected a few months ago.
Curious how this trend shows up in your specific neighborhood or price range?
Market shifts don’t affect every home or every buyer the same way.
If you’d like a quick, data-backed snapshot for your situation, I’m happy to share it. No pressure, just clarity.
Reach out anytime or follow along, tomorrow I’ll break down what these early activity trends mean specifically for Triangle buyers and sellers.