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

Home North Raleigh Homes Midtown Raleigh Homes Raleigh Luxury Homes Wake Forest Homes Cary Homes North Carolina Triangle

Raleigh Housing Market
August 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

August
2020
2,136
$398,853
20
2,688

August
2021
2,084
$461,531
7
1,118

Annual
Change
-2.4%
+15.7%
-65%
-58.4%

Dog Days of Summer are here with Listings Flying Off the Shelves.

• Raleigh Closed Sales: Home sales fell this month compared to last August. August sales were down by 2.4% over August of last year. The lack of inventory is playing a factor in this decrease.

• 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 $461,531. That's an increase of 15.7% over last year in August.

• Days On Market: The average days on market before a sale dropped dramatically again this month compared to last August. The average days on market for August was 7 days. That's down 65% from August last year.

• Raleigh Active Listings:This is the BIG one again. Active listings fell, thud, this month. Listings dropped a whopping 58.4% from last year in August.

According to the Triangle MLS, "The booming U.S. housing market has spilled over to the rental market, which has seen demand for apartment and single-family rentals skyrocket this year, as high sales prices and an inadequate supply of available housing have forced many prospective buyers to rent for the foreseeable future. Increased demand for housing, along with an improving economy, has competition for rental units soaring, and landlords are taking note, with the national median rent increasing 11.4% in 2021 so far, according to Apartment List.

In new construction, home builders continue to struggle to meet buyer demand, as housing starts nationwide dropped 7% last month, according to the Commerce Department. Single-family home construction declined 4.5%, and multi-family home construction, which includes condos and apartment buildings, was also down, falling by 13%. Labor shortages, rising material costs, and supply-chain setbacks continue to challenge builders, with some projects temporarily paused due to availability and cost of materials."

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 for this competitive market. 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

Raleigh Homes For Sale	Raleigh Luxury Homes	North Raleigh Homes	Midtown Raleigh Homes	Raleigh Inside The Beltline	Raleigh New Homes
Raleigh Townhomes & Condos	Raleigh Golf Homes	Cary Homes For Sale	Durham Homes For Sale	Wake Forest Homes	North Carolina Triangle
Raleigh Home Buyers	Raleigh Home Sellers	Raleigh Community Information	Raleigh Fun Stuff	Raleigh Triangle Schools	All About Ed & Erin