{"id":836,"date":"2026-05-23T16:34:26","date_gmt":"2026-05-23T16:34:26","guid":{"rendered":"https:\/\/durhammovinghub.com\/?p=836"},"modified":"2026-05-23T16:34:26","modified_gmt":"2026-05-23T16:34:26","slug":"one-triangle-suburb-saw-double-digit-drops-another-saw-bidding-wars-heres-why","status":"publish","type":"post","link":"https:\/\/durhammovinghub.com\/?p=836","title":{"rendered":"One Triangle suburb saw double\u2011digit drops. Another saw bidding wars. Here\u2019s why."},"content":{"rendered":"

AI-generated summary reviewed by our newsroom.<\/p>\n

Read our AI Policy.<\/a><\/p>\n

The Triangle\u2019s housing market is no longer moving in one direction.<\/p>\n

Redfin\u2019s latest data<\/a> shows a region that looks \u201cbalanced\u201d on paper \u2014 Raleigh\u2019s median sale price is down just 1.4% year over year, and homes are taking 43 days to sell \u2014 but the neighborhood\u2011level reality is far more uneven.<\/p>\n

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Some pockets, like downtown and East Raleigh, are still absorbing double\u2011digit price drops. Take, for example, a 975-square-foot condo at 301 Fayetteville St. \u2014 relisted for $485,000<\/a> in March with a $30,000 price cut and later removed after it failed to sell.<\/p>\n

Others, like North Raleigh and Chapel Hill, are back to bidding-war territory. A 3,310-square-foot home on Highgrove Drive in Chapel Hill\u2019s Southern Village sold for $1.42 million<\/a> in April, $125,000 above listing price.<\/p>\n

The result is a market where averages hide the extremes, and factors such as \u201ccondition, price and location\u201d dictate sales, experts say.<\/p>\n

Using Redfin data from March, here are some market trends:<\/p>\n

Redfin\u2019s citywide cooling is modest, but several Raleigh submarkets continue to feel the aftershocks from last year\u2019s sluggish sales.<\/p>\n

North Hills:<\/b> Median prices dropped<\/a> 2.2% year over year to $901,000. Sales were up 10.8%. Homes sold after 70 days compared to 37 days last year.<\/p>\n

East Raleigh:<\/b> Prices were down<\/a> 7% to $465,000 compared to last year. Sales were down 18.5%. Homes sold after 95 days compared to 62 days last year.<\/p>\n

Durham (27703):<\/b> Median prices fell<\/a> 1.2% year over year to $425,000. Sales were up 20.3%. Homes sold in around 45 days compared to 28 days last year.<\/p>\n

Northeast Durham<\/b>: Prices were down<\/a> 8.3% year over year to $297,990. Sales jumped 52.2%. Homes sold in around 52 days compared to 69 last year.<\/p>\n

Hillsborough<\/b>: Median prices slid<\/a> 5.8% year over year to 499,000. Sales were down 30% from last year. Homes sold after 10 days compared to 20 days last year.<\/p>\n

Even as the citywide numbers cool, Redfin\u2019s data shows selective heat in the Triangle\u2019s most desirable enclaves.<\/p>\n

North Raleigh<\/b> (Bedford at Falls River<\/b>): Median prices increased<\/a> 28.7% over year to $740,000. Sales were up 11.1%. Homes sold in around 35 days compared to 7 days last year.<\/p>\n

Chapel Hill<\/b>: Prices were up<\/a> 6.5% year over year to $495,000. Sales were down 15.7%. Homes sold in around 65 days compared to 16 days last year.<\/p>\n

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Central Raleigh:<\/b> Median prices jumped<\/a> 18.9% year over year to $537,500, with homes taking 60 days to sell compared to 56 days last year.<\/p>\n

Downtown Raleigh<\/b>: Home prices were up<\/a> 3.1% year over year to $497,500. Sales were also up 33.3% from last year. Homes sold after 58 days compared to 116 days last year.<\/p>\n

After spiking to a seven\u2011month high in early April, 30-year fixed mortgage rates eased for three straight weeks and ended the month below 6.3%, according to Redfin<\/a> \u2014 a shift that helped revive buyer activity heading into spring, say experts. (It\u2019s since bounced back to around 6.5%<\/a>).<\/p>\n

Across the Triangle, prices are slightly down or modestly up, inventory is rising, and homes are taking longer to sell.<\/p>\n

Conditions matter more than ever, said John Wood<\/a>, owner of Re\/Max United in Cary, who has been an agent in the Triangle since 1988.<\/p>\n

\u201cBuyers are ignoring homes that are overpriced or need work,\u201d he said on Thursday. \u201cToday\u2019s buyer is not looking for a project home; they want to move in and enjoy.\u201d<\/p>\n

Variables like proximity to roads or flood zones are also impacting days on market, added Cory Sherman<\/a>, a broker with Homegrown Real Estate in Durham.<\/p>\n

\u201c[That] needs to be adjusted for in the price,\u201d he said.<\/p>\n

Adding to the pressure is the new-home market, where builders are continuing to offer large concessions with below-market interest rates and credits. That\u2019s pulling buyers away from older homes.<\/p>\n

The plus side: Buyers have more leverage than at any point since 2019.<\/p>\n

For those who have been waiting on the sidelines, \u201cit\u2019s a good opportunity,\u201d said Ryan Fitzgerald<\/a>, owner of Raleigh Realty.<\/p>\n

They can complete inspections without rushing, negotiate repairs before closing, and include appraisals in their offers again. \u201cAll things that would have been considered a \u2018deal killer\u2019 just a few short months ago,\u201d he said.<\/p>\n

Keep up with the latest Triangle real estate news by subscribing to On the Market, The News & Observer’s free weekly real estate newsletter. Look for it in your inbox every Thursday morning. Sign up here<\/a>.<\/p>\n

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The Triangle market is mixed: double-digit price drops in East Raleigh and bidding wars in Chapel Hill.<\/p>\n","protected":false},"author":1,"featured_media":835,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-836","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-read-todays-edition"],"yoast_head":"\nOne Triangle suburb saw double\u2011digit drops. Another saw bidding wars. Here\u2019s why. - Durham Moving Hub<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/durhammovinghub.com\/?p=836\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"One Triangle suburb saw double\u2011digit drops. Another saw bidding wars. 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