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

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Raleigh Housing Market
August 2017

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

August
2016
2,003
$301,684
31
4,124

August
2017
2,218
$330,131
33
3,872

Annual
Change
+3.5%
+9.4%
+6.5%
-6.1%

August Remains HOT!

• Raleigh Closed Sales: August sales were up from last year by 3.5%.

• Average Raleigh Sales Price: The average sale price rose again this month. The average price of homes sold in August was $330,131. That's an increase of 9.4% over last year. That is a very nice increase!

• Days On Market: The average days on market before a sale went up again this month - that was a surprise.. Days on market now stands at 33 days. That's up 6.5% from last August.

• Raleigh Active Listings: Active listings are down again this month. Listings fell 6.1% from last year in August.

Sales Prices Rise! The Excellent News Continues.

Sale prices were the news this month. The average price of a home is past the $300,000 mark again and currently is at $330,131. The demand remains strong with competing offers the norm in some locations.

The Days On Market (DOM) rose from last year in August. However it is the exact same as last month's DOM. Current time on market before a sale averages at 33 days this month. It seems as if the reality of competing offers and a rise in average Days on Market are conflicting data points.

How that "average" translates on the street is that houses in hot areas that are well presented and priced can sell in a hot second. Yet, in other areas, due to location or other factors, the same well presented and priced homes can take a bit longer to sell. Now add the homes that are overprice and/or poorly presented and we have the data situation that could seem at first glance counter intuitive. But, as with all averages, individual homes sales are dependant on many factors.

If you've been thinking about selling your home, Now is the Time. We're always in need of good homes that 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 we'd love to help. We specialize in the Triangle communities and surrounding areas. We sell a lot of homes so we know what we're doing in this high demand/low inventory situation. We love meeting people and helping them find their Dream Home. 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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