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

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Raleigh Housing Market
September 2014

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

September
2013
1,320
$255,189
105
6,238

September
2014
1,425
$266,664
106
4,906

Annual
Change
+8.0%
+4.5%
+1.0%
-21.4%

Fall Selling Season Begins

• Raleigh Closed Sales: September sales are up from last year's numbers by 8%!

• Average Sales Price: The September average sales price rose to $266,664. That's up from September of last year by 4.5%.

• Days On Market: The average days on the market until a home sells is now at 106 - that's up only one day from last year.

• Raleigh Active Listings: The total active listings are down by a whopping 21.4% from last year.

Weather is Fantastic! Warm days, cool nights brings Fall Buyers.

September was solid month - up 8% over same period last year. In 2013 there were 1,320 closed sales in Wake County in September and this year we have 1,425. That's a healthy response as we head into Fall!

Fall and Winter buyers are a different group than Spring and Summer buyers. The cool weather brings out the very focused buyers who have a critical eye and make quick decisions based on sold research. They are a smaller group and are laser-focused. Fall and Winter buyers are not just looking - they are out there to buy a home - period.

This leads us to the current inventory of homes. The saga of low inventory continues and is now the new normal. We are down almost 22% from last year. Now that is all listings - new and existing. If we look just at new listings in September we see the same issue. New September listings are also down from 2013 September listings by 7.5%.

This low inventory is good for sellers not buyers. However buyers are not settling for anything but the best of what's available. The homes that show well sell. The homes that have not had a good preparation prior to listing - do not. Poorly prepared homes sit on the market and get cold and are ignored.

Despite all predictions, interest rates continue to remain low, Lenders continue to slowly ease credit standards for home loans.

The FED is expected to announce the end of Qe3 this month. Most economists predict the FED will begin slowly increasing rates sometime in mid 2005, although any robust economic indicators in the next quarter or two could move that rate increase forward into the first half of next year. We monitor this closely as it is a precursor to increased mortgage rates.

If you're looking for a No Hassle-No Pressure 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. We love meeting people and helping them find their Dream Home. Contact us and we can help you too :-)

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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