Market Update: Goldman Chavez Group with BOLD Real Estate

Who had war and rising oil prices on their bingo cards to kick off the spring market?

After 28 years in real estate and living through every kind of market disruption, whether real or emotional, one thing remains consistent: when uncertainty hits, people pause. Buyers and sellers take a step back to re-evaluate their personal situation and make sense of what is happening in the broader economy. We saw that reflected in the March numbers, and a little in April, particularly in Chatham County and Chapel Hill.

Right now, the market is moving in different directions for different reasons:

First, some homeowners bought at the peak of the Covid market and expected those same prices when it came time to sell. At the same time, we are seeing more inventory hit the market than we have in recent years. That combination has led to longer days on market and more price reductions. Sellers are still adjusting to the reality that homes are not selling instantly anymore. When listings are overpriced from the start, they can quickly become stale and buyers stop paying attention.

At the same time, the Triangle continues to grow, but not every area is experiencing growth in the same way. One of the more unusual situations we are watching closely is the contraction happening within the Chapel Hill-Carrboro school system. As home prices continue to rise in Orange and Chatham counties, it has become harder for young families to enter the market and in these communities. Schools are feeling the impact of those affordability challenges.

In Chatham County, we are navigating what feels like “Chatham present” versus “Chatham future.” The vision for the future includes thousands of jobs, major employers, shopping, restaurants, and long-term infrastructure growth. The present reality, however, has been a little more uneven. Wolfspeed, once projected to bring thousands of jobs to the area, has been significantly impacted by changes at the federal level. While the long-term outlook for the semiconductor industry in Chatham County is still promising, the timeline is much less certain than originally anticipated. The same can be said for other major development opportunities. VinFast remains on hold, and there are still many unanswered questions surrounding future projects at the CAM site. The opportunities are there, but the pace and timing remain unclear.

Meanwhile, Chatham Park continues building infrastructure for what is eventually planned to be around 22,000 homes, despite only having about 600 homes built today. It is truly an early-adopter community. Recently, someone referred to Chatham County as having “the best executive housing in the country,” and Desiree’s immediate response was, “What about everyone else?” Long-term growth must include housing opportunities across different price points, especially for the workforce already supporting these communities.

Elsewhere in the Triangle, Durham has emerged as one of the stronger stories this year after an unusually challenging 2025. Durham home values are currently up 16% year over year. Hillsborough is showing an impressive 81% increase, though it is important to note the smaller sample size there, with only 112 homes sold so far this year.

What we continue to see across the board is that serious buyers are still out there, but they are far more selective. Homes that are priced appropriately and presented well are still moving. Buyers up to now have not felt much urgency. With rising interest rates that may change, we shall see. As always, real estate is hyper-local, and understanding the nuances of each community matters now more than ever. Serious buyers are out there, but they are being more selective.