01-07-2025
- Business
- Business Journals
Triangle real estate in 2025: What today's buyers want and how sellers can win
The COVID-19 pandemic housing rush may seem like it wasn't that long ago, but its influence on today's housing market lingers. As home sales soared between 2020 and 2023, sellers often received multiple offers — many significantly over asking price — which has reshaped the market today.
Yet the market isn't the same as it was during the pandemic. While the main driver of demand — the need for homes and lack of inventory — is still the lead story in the current market, some circumstances have changed.
What hasn't changed is the need for inventory. The number of homes on the market is still low. A normal market has between four to six months of inventory available for the region. Yet in May, the Triangle's inventory of homes was just under three months' supply. Still, there are more homes available on the market — currently over 10,000 homes — than there have been in the past several years. This shows things are trending toward normalization in the Triangle, albeit slowly.
With too few homes available, demand is still high, and homes stayed on the market for an average of 20 days in May. This number shows there's still high demand, and the average is expected to lower as the peak summer selling season hits.
The biggest circumstance that's changed is how sellers can remain competitive in the market. Resell homes sell fast today when sellers find ways to stand out, and when sellers understand what buyers are willing to pay for in today's market.
interactive Home Watch map.
What buyers want in a home
According to the 2025 Home Buyers and Sellers Generational Trends Report from the National Association of Realtors (NAR), buyers are purchasing homes in 2025 for specific reasons. For most buyers under the age of 59, including Gen Z, millennials and Gen X, the largest reason is to own a home of their own. For older buyers, they are buying to be closer to friends and family, or to downsize.
When comparing resale versus new construction, most buyers purchased resale homes for specific reasons as well. Buyers largely view resale homes as offering a better overall value and price than new construction, and they believe these homes offer more charm and character, too. In addition, buyers were largely unwilling to make compromises on what they wanted in a home. A large driver of new construction was many buyers wanted to avoid major renovations or issues with electricity or plumbing.
Finally, data from the same NAR report shows that buyers are largely paying the asking price for homes they purchase. These homes are listed on the market for less than a month, and there hasn't been a drop in asking price to create more demand. That means sellers can get a fair price if the home is appropriately priced and ready for move-in.
If you're considering selling your home, it's important to take the time to prep a home before listing it. That means making small repairs or updates that might be considered a must-have in their new home. Buyers want homes that are in good condition, and that means taking the time to prep the home for sale. Minor tweaks and updates, painting and decluttering can go a long way toward ensuring you get the best offer for your home.
Work with an experienced real estate agent
The final key to selling is to work with an experienced real estate agent who has a solid pulse on the market. Before you hire an agent, do your research to see how experienced they are, the type of marketing they're doing and whether they are actively using social media to sell homes. Interview any agent you're considering working with to see if you click with the person. And be sure to ask for references that you can follow up with. The right agent will put you at ease through the selling process.
For example, because of the prominence of new construction in the Triangle, your agent should be able to provide creative insights on how to get competitive in a market where builders are offering incentives for purchases. An experienced agent will also be able to provide you with insights about what you may need to do to get your home prepped before it's listed.
Finally, a good agent will know how to price your home to sell, so that when it hits the market, it is attractive to potential buyers. And the right agent will have marketing recommendations in place, which should include a digital marketing strategy. The NAR report shows that digital methods such as websites, virtual tours, social media and digital ads are the most popular methods for searching for a new home. Your agent should have a plan for marketing your home within the digital landscape.
