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

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Raleigh Housing Market
September 2013

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

Year
2012
1,120
$241,889
105
6,727

Year
2013
1,304
$254,735
84
5,954

Annual
Change
+16.4%
+5.3%
-20.7%
-11.5%

Hints of Fall Is in The Air

• Raleigh Closed Sales are up again - could be the new normal. Closed sales are up 16.4% over last September.

• The September average sales price was $254,735, up 5.3% from $241,889 in September of 2012. We remain positive and expect this trend will continue throughout the rest of 2013.

• The Days on Market dropped a chunk from last year. In September of 2012 it took an average of 105 days until sale - this September - down to 84 days! Make good offers, homes are currently selling on average for 97.9% of asking price.

• Active listings are at 5,954. That's still down from last year by 11.5%.

• The new listings are starting to creep up. New listings this September are up 17.3% over last year's September numbers.

List now to catch the serious winter buyers! Call us.

September is here and fall is tickling the air. The steady upward trend continued with average sales prices, median sales prices and total home sold are all up over last year. We anticipate that this upward trend will continue.

As we begin heading into the fall selling season we remain desperately low on listings. Inventory is increasing as sellers enter the market but overall inventory is still down. Homes are selling steadily and we need more listings Right Now!

Heading into Fall and the weather is fantastic! Temperatures are cooling down a bit and it's glorious out there! Fall and winter buyers are here and they are a different group than the spring and summer buyers.

Fall and particularly Winter buyers are showing up. These buyers are serious and focused. They are looking to get locked in to their home before the holidays are in full swing. There are fewer buyers out there but the ones that are there are serious. Companies transfer staff around this time and families want their kids settled before the next year's school sessions start.

Raleigh New Listings are up - Yeah! There were 1,743 new listings this month as opposed to 1,486 in September of 2012. That's an increase of over 17%. Sellers are hearing the news of low inventory and starting to grab the opportunity. Overall we're still down but it is slowly getting better. Sellers - there still is time for you to stand out to these Fall buyers. If you want to sell this fall, you need to list Real Quick! Call us! We expect new listings to go down in the next couple months so you can be a strong standout!

Overall we can draw some quick conclusions from these Raleigh home sales statistics. Sales volume is up from last year and the average sales price continues to rise. The average days on market dropped to 84. The Raleigh Housing Market remains locked in a slow steady upward trend.

On the downside, interest rates continue to climb. This trend may flatten and hold position for awhile with the new FED appointment of Janet Yellen. But Rates will be higher sooner than later. Remember - new lending regulations are coming in January which will make it more expensive and difficult to obtain a loan. Talk To Your Lender!

Raleigh Home Buyers and Sellers

Feel free to contact us with your questions. We're easy to talk to and we can answer any questions you might have about current market conditions, interest rates or where Raleigh home prices are headed. If you're interested in talking about listing your home we'd be happy to provide our recommendations on how best to proceed to market your home.

We'll also provide you with a Raleigh Neighborhood Report that will let you know what has been happening with home sales in your individual neighborhood.

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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