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

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Raleigh Housing Market
March 2020

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

March
2019
1,747
$351,008
32
3,861

March
2020
1,870
$369,430
29
3,411

Annual
Change
+7.0%
+5.2%
-9.4%
-11.7%

Real Estate Deemed an Essential Service

• Raleigh Closed Sales: Home sales rose this month compared to last March. March sales were up by 7%.

• Average Raleigh Sales Price: The average sale price also rose this month in relation to last March. The average price of homes sold in March was $369,430. That's an increase of 5.2% over last year in March

• Days On Market: The average days on market before a sale fell this month compared to last March. The average days on market for March was 29 days. That's down 9.4% from March last year.

• Raleigh Active Listings: Active listings are down this month. Listings dropped 11.7% from last year in March.

As you digest the March numbers, remember that the closing we see in March are the result of homes that went under contract in February. From contract-to-close you can usually figure 30-40 days. So the closings in March went under contract 30+ days ago. That was before the Wake County shutdown. It is going to be very interesting to see what the numbers look like in April.

So what is happening with Real Estate during the shutdown? Real Estate was classified as an Essential Service. We are still providing service:) There are buyers that absolutely need to get into a home. Likewise, there are homeowners that must sell their home for a plethora of reasons. Accommodations have been made to adherer to all safety measure. Homes are being shown both virtually and in person. For in person showings, we always make sure we have gloves for the potential buyers and maintain distance. Overlapping showing are not allowed. Often, only the Realtor will be in the home and show it to buyers virtually. This works out very well and homes are selling this way. Most Realtors will provide information regarding how to show the listed home. We all take this situation very seriously and will guide you through these challenging times.

There is always a plethora of information out there about Real Estate. It's very important, now more than ever, to have a strong Realtor who knows the market. Ask for guidance as you maneuver either as a buyer or seller.

If you've been thinking about selling your home, or buying a home during this time, it is possible. It can be very smooth and interesting. Make sure you are with a strong Realtor that knows how to manage these situations. We're always in need of good homes and know how to prepare and market your home during this unusual time. People are out there and They're Buying Now. Both buyers and sellers are doing well. If you're looking for a strong Seller agent, Please Contact us, we'd love to help you sell your home!

If you're looking for an Experienced, Knowledgeable Buyer Realtor to show you around the ins and outs of this market, we'd love to help. We specialize in the Triangle communities and surrounding areas. We sell a lot of homes and we know what we're doing. Contact us and we can help you too :-)

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 us Today at 919-280-2726

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