New Listings in February were flat. As compared to 2024, this measure grew by only 0.9%. Total new listing were 2,845 throughout the Triangle. As the season changes, we believe that we will see more listings come on the market. Based on conversations that we have had with our local lending partners, at the time of this writing, mortgage applications are surging so demand will surely be growing over the next few weeks.
2) Median Days on Market has decreased:
Median Days on Market was revised upward after we released our January numbers to 40 days on market. This month, we saw a decrease in median days by 15% to 34.
According to Mortgage News Daily, as of the publishing of this newsletter, 30-year fixed rate loans are down ~0.25% (at just about 6.79%) and applications are rising. At this pricing, the price of a monthly mortgage for a median priced home would be approximately $2,800 per month (P+I).
The movement of the 10-year Treasury has helped to push rates over the past 2 weeks which is welcomed news. While buyer’s credit score, loan amount and home location can all play a role in the rate you are paying we hope that this helps give you a better understanding of what your monthly mortgage may look like as you begin to think about your next home purchase.
As always, please reach out to us if you have any questions or would like us to help connect you to one of our wonderful lending partners.
If you are looking for somewhere other than your typical spot to enjoy a beverage or meet up with a friend, let us suggest two new fabulous coffee shops in Raleigh: Paul & Jack Bakery & Pastry Shop and WRK x Optimist
Celebrating Milestones & Accomplishments
K&Co. Sponorship:
Brooks Foundation Casino Night
Here's what Jenna & Peter W. had to say about working with us:
“Jeremy is a very skilled negotiator, knows the market and price points well, is excellent in coordination of all the aspects of the offer process and the multiple steps that happen after.
He and his office took care of absolutely every aspect of the steps between offer and closing. I know other people don’t have as smooth and coordinated experience, which is why we without a doubt recommend Jeremy Kaplan.”
Your recommendations and referrals are the absolutely highest compliment!
We hope that if you have a positive experience working with us that you will pass along our information to any friends, family, or colleagues with real estate needs.
Thank you for your support of Kaplan & Co. Jeremy & Emily
