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

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Raleigh Housing Market
July 2021

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
2020
2,391
$379,734
24
3,006

July
2021
1,974
$472,447
7
1,154

Annual
Change
-17.4%
+24.4%
-70.8%
-61.6%

Summer Heat with a White Hot Market!

• Raleigh Closed Sales: Home sales fell this month compared to last July. July sales were down by 17.4% over July of last year.

• 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 $472,447. That's an increase of 24.4% over last year in July.

• Days On Market: The average days on market before a sale dropped dramatically again this month compared to last July. The average days on market for July was 7 days. That's down 70.8% from July last year.

• Raleigh Active Listings:This is the BIG one again. Active listings fell, thud, this month. Listings dropped a whopping 61.6% from last year in July.

According to the Triangle MLS, "The White House recently announced additional measures to help struggling homeowners avoid foreclosure as they exit forbearance, including loan modifications and payment reductions. Borrowers with federally backed mortgages can lock in lower interest rates and extend the length of their mortgages. For borrowers who can't resume their monthly mortgage, HUD will offer lenders the ability to provide all eligible borrowers with a 25% principal and interest reduction.

The National Association of REALTORS reported inventory of homes for sale nationwide rose slightly in June as more sellers list their homes, hoping to take advantage of record-high sales prices across the country. Even with renewed home seller interest, inventory overall remains 18.8% lower than a year ago, according to NAR."

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 during this incredible time. If you're looking for a strong Seller agent, Please Contact us, we'd love to help you sell your home!

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.

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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