‘It’s absolutely crazy’: Viral video captures frenzy at North Carolina open house

RALEIGH, NC (WNCN) — Realtor Monique Edwards took her client to view a home in Raleigh, North Carolina’s North Farms area on Tuesday night, expecting things to be a bit chaotic .

The 3-bedroom, 3-bathroom home in question was listed at $260,000 and she knew from experience that in today’s housing market, demand would be high.

What she saw upon arriving at the Lafferty Court home, however, prompted her to pull out her phone and start recording.

“This is absolutely insane,” Edwards can be heard saying in the recording. “The line goes all the way (around).”

A neighbor, Ann, described the scene a day later.

“It was really chaotic. I couldn’t even walk the dog,” she said. “(People) were double-parked in the cul-de-sac. an auction because there were people in the yard.

No auctions though. Just a house showing in 2022.

For months, Nexstar’s WNCN has reported a competitive housing market in the Research Triangle, with low inventory fueling high prices. The area gets its nickname from the three prestigious schools located nearby – Duke University, UNC-Chapel Hill and The University of North Carolina.

But Edwards believes some homebuyers still don’t fully understand what lies ahead as they prepare to test the market right now.

“I feel like a lot of people don’t know what’s going on,” she said a day later, pointing out that she had seen buyers tour the house for less than five minutes and then announce that they intended to make an offer on the house.

In the video, Edwards can be heard referring to a “housing crisis.”

She said the “crisis” she was referring to is, more specifically, the inventory of what she calls “average” homes and the ability of buyers to land a home for less than half a million dollars. dollars. According to Redfin, the average selling price of a home in Raleigh is currently $375,000, up 22% from last year.

“They have jobs, they have families, they have good incomes,” she said. “But this intermediate accommodation is where this offer is really, really awful. We really need to do something about this.

Absent any significant changes in the market landscape, however, Edwards hopes his video – now shared thousands of times on social media – will serve as a “teachable moment”.

“It’s absolutely ridiculous,” she said in the video. “We need to take control of the housing industry.”

The realtor representing the seller of the home said Wednesday that the home is now under contract within two days of being on the market.


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