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

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Raleigh Housing Market
April 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

April
2019
1,892
$358,408
27
4,079

April
2020
1,651
$382,309
21
3,497

Annual
Change
-12.7%
+6.7%
-22.2%
-14.3%

April Shows Interesting Results

• Raleigh Closed Sales: Home sales fell this month compared to last April. April sales were down by 12.7%.

• Average Raleigh Sales Price: The average sale price also rose this month in relation to last April. The average price of homes sold in April was $382,309. That's an increase of 6.7% over last year in April.

• Days On Market: The average days on market before a sale fell this month compared to last April. The average days on market for April was 21 days. That's down 22.2% from April last year.

• Raleigh Active Listings: Active listings are down this month. Listings dropped 14.3% from last year in March.

April is showing the effects of Covid-19 and they are very interesting. With strict safety measure in place, both buyers and seller stepped forward in these unusual times. Here is what we saw. Closed sales were down and showings were down. However, sales were occurring. What appeared to be happening was this, the average days on market, dropped over 22%! So, the people that were out there, were buying fast. These low days on market are at historic levels.

One of the factors driving the low days on market is, that the inventory is also down over 14%. There were fewer homes available and the people looking for homes were buying them very fast! Looking at the data, people are buying homes faster than new listings are coming on the market. Following on the heels of this is the rise in the average sale price. Not surprisingly, the average sale price is rising with it showing an uptick of 6.7% over last year.

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 are thinking about selling your home, now is an EXCELLENT time. We're always in need of good homes and know how to prepare and market your home safely during this unusual time. If you are looking into buying a home, make sure you are Buyer-Ready, and that you are able to make decisions quickly. The best way to do this is to make sure you are with a strong Realtor that knows how to manage these situations and who will keep you on top of all the important information and steps in this challenging 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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