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

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Raleigh Housing Market
August 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

August
2018
2,070
$342,016
23
4,211

August
2019
1,962
$361,819
27
4,129

Annual
Change
-5.2%
+5.8%
+17.4%
-1.9%

We Begin the Transition from Summer to Fall

• Raleigh Closed Sales: Home sales dipped this month compared to last August. August sales were down by 5.2%.

• Average Raleigh Sales Price: The average sale price rose this month in relation to last August The average price of homes sold in August was $342,940. That's an increase of 5.8% over last year in August.

• Days On Market: The average days on market before a sale rose this month compared to last August. The average days on market for August was 27 days. That's up 17.4%

• Raleigh Active Listings: Active listings are down this month. Listings dropped 1.9% from last year in August.

Summer Draws to a Close

As summer gives way to fall the market is faced with trends that are somewhat competing with each other. With the Federal Reserve lowering the interest rate for 30-year mortgage rates it's looking like a clear cut positive for buyers. However, for first-time home buyers the lack of affordable inventory and rising home prices, leaves a significant portion of the buying public unable to respond with the vigor that would be expected.

In Wake County, Days on Market are still low, however we did see a pearl-grabbing rise of 17.4% compared to last year at this time. Closed sales also dipped 5.2% compared to last year. Although no one's hair is on fire, it has caught our attention and we will be watching to see how the fall sales shake out compared to 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'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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