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

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Raleigh Housing Market
July 2012

Homes in Raleigh
Data from Triangle Multiple Listing Service

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

Year
2011
1,000
$248,453
127
8,746

Year
2012
1,226
$253,480
108
5,872

Annual
Change
+22.6%
+2.0%
-14.8%
-32.9%

Home Sales Continue to Rise

• Raleigh home sales continue to rise, up by 22.6% over last July.
• Average Raleigh home prices dipped slightly by 2.3% compared to last month.
• It took 14.8% less time to sell a home in Raleigh than last year.
• Sellers are not yet responding to the idea of limited competition. Inventory of homes for sale dropped even further from last month.

What Does All this Mean?

The Dog Days of Summer have arrived. It's hot and it's muggy but Raleigh sellers and buyers are feeling happy.

The sellers are happy because of the continued low inventories as their homes are getting more buyer action. Buyers are smiling because of the historic Low Interest Rates. This unique situation almost never happens but here it is and it's presenting a unique opportunity for both Buyers and Sellers.

The Raleigh real estate market continues to climb in sales as it has for the past year. The sales keep going up, the time it takes to sell a home in Raleigh continues to decline, and prices are beginning to rise.

The number of homes on the market is still low. We are seeing the low inventory not only here but across the country. That's one reason some homes are flying off the shelves. There's less for buyers to choose from and so, bowing to the law of supply and demand, multiple offers continue to be more common.

We feel this trend will continue through into the fall and expect a stronger winter selling season than last year.

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 Email Us or Call Us Today at 919-280-2726

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