6020 Creedmoor Road, Raleigh, NC 27612 ~ Cell: (919) 280-2726 Erin@HomesInRaleigh.org

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Raleigh Housing Market
February 2016

Homes in Wake County
Data from Triangle Multiple Listing Service

Closed Sales
Average Sales Price
Average Days On Market Until Sale
Number of Homes For Sale

February
2015
1,057
$268,487
66
3,686

February
2016
1,098
$281,633
54
3,116

Annual
Change
+3.9%
+4.9%
-18.2%
-15.5%

Spring Selling Season Poised to Begin

• Raleigh Closed Sales: February sales are up from last year's February sales. This month's sales were up almost 4% from last year.

• Average Raleigh Sales Price: February continued the upward momentum in the sales price in the Raleigh area. The average price of sold homes in February was of $281,633. That's in increase of 4.9% over last year.

• Days On Market: The average days on market before a sale continues to drop and now stand at 54. That's down over 18% from last February.

• Raleigh Active Listings: The number of active listings continues to drop. Listings are down 15.5% from last year.

Buyers Looking ~ Shortage of Homes

The Spring Market is poised to start with a major shortage of inventory across the Triangle (and the Nation.) We are hoping, as the weather begins to warm, that an increase in homes for sale with meet the waiting demand. New construction is ramped up to full speed but the build time is not currently meeting the needs of people looking for move-in ready homes.

If you've been thinking about selling your home, Now is the Time. We're ready for the spring season. If you want to catch the early spring season buyers, you need to get listed right away. Remember, it usually takes a little time to get going on a new listing. You need to get your home ready for showing, the advertising needs to be created, and all the paper work needs to be completed.

People are out there and They're Buying Now so don't delay to get your home in front of them. People are still coming to NC in droves. With this current shortage, you will be in prime position. If you're looking for a strong producing agent, Please Contact us, we'd love to help you sell your home!

All market indicators remain positive as we head into Spring and we are anticipating strong numbers in the Spring sales. We are looking for a continued climb in sales and prices as we head into 2016.

Mortgage rates continue to hover below 4.0 percent and we are in an unprecedented 70 consecutive months of private-sector job growth. With the inventory situation, competition for the best available properties should be profound. Multiple offers are now expected on quality properties in all price brackets. Make sure you have an agent that knows how to best handle multiple offer situations to make your offer stand out above the rest - it's not always about the highest price!

If you're looking for a No Hassle-No Pressure Realtor to show you around we'd love to help. We specialize in the Triangle communities and surrounding areas. We sell a lot of homes so we know what we're doing. We love meeting people and helping them find their Dream Home. Contact us and we can help you too :-)

Raleigh Home Buyers and Sellers

Feel free to contact us with your questions. We're easy to talk to and we can answer any questions you might have about current market conditions, interest rates or where Raleigh home prices are headed. If you're interested in talking about listing your home we'd be happy to provide our recommendations on how best to proceed to market your home.

We'll also provide you with a Raleigh Neighborhood Report that will let you know what has been happening with home sales in your individual neighborhood.

The Raleigh Housing Market Reports below will give you a detailed look inside the current and past Raleigh Area Housing Market.

If you have questions about the Raleigh Real Estate Market,
or what your Raleigh home is worth Email Us or Call me Today at 919-280-2726

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