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

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Raleigh Housing Market
July 2019

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

July
2018
2,087
$348,812
21
4,017

July
2019
2,098
$366,615
24
3,989

Annual
Change
+.05%
+5.1%
+14.3%
-0.7%

July - Officially the Hottest July EVER!

• Raleigh Closed Sales: Home sales rose this month compared to last July. July sales were up by 0.5%.

• Average Raleigh Sales Price: The average sale price rose this month in relation to last July The average price of homes sold in July was $366,615. That's an increase of 5.1% over last year in July.

• Days On Market: The average days on market before a sale rose this month compared to last July. Average days on market for July was 24 days.

• Raleigh Active Listings: Active listings are down this month. Listings dropped 0.7% from last year in July.

Good News for Consumers

In July, the U.S. economic expansion that began in 2009 became the longest in the nation's history, marking 121 straight months of gross domestic product growth. Here in the Triangle, we also had a record. This July, homes sales were the highest they been in the last 14 years. Yeah! We have been going up step by step and in July - BAM, hit the record!

In addition, the current low interests rates are great for home buyers. The Federal Reserve reduced the interest rate by a quarter point to about 2.25 percent, marking the first reduction in more than a decade. It's interesting, and a bit odd, what's happening. As average home prices have gone up, the monthly mortgage payment associated with that average price has gone down because of the lower interest rates. So, consumers have more buying power. When looking at the all-important monthly mortgage payment, buyers can get a higher priced house for a lower mortgage payment. That's a good thing and people are loving it.

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, Now is the Time. We're always in need of good homes which are prepared for strong buyers. People are out there and They're Buying Now and both buyers and sellers are doing well. Don't delay getting your home in front of them. With this current shortage, you will be in prime position. 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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