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

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Raleigh Housing Market
October 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

October
2018
1,567
$343,757
27
4,214

October
2019
1,826
$362,392
29
4,073

Annual
Change
+16.5%
+5.4%
+7.4%
-3.3%

October Brings A Great Bag of Treats

• Raleigh Closed Sales: Home sales took a giant jump this month compared to last October. October sales were up by 16.5%.

• Average Raleigh Sales Price: The average sale price also rose this month in relation to last October. The average price of homes sold in October was $362,392. That's an increase of 5.4% over last year in October.

• Days On Market: The average days on market before a sale rose this month compared to last October. The average days on market for October was 29 days. That's up 7.4%

• Raleigh Active Listings: Active listings are down this month. Listings dropped 3.3% from last year in October.

News is mostly good for this seasonal time.

September and third quarter metrics were mostly positive compared to last year's numbers. Part of this was due to the hurricane at the coast last year that held thing down a bit. Although we were not heavily impacted in Wake County it still does impact both buyers and sellers as people tend to hunker down.

A current positive for buyers is the decline in mortgage rates which helps offset rising house prices. With the average house price increases, monthly mortgage payment has decreased due to these lower mortgage rates.

Always, a note when considering averages. Some price ranges are more responsive than others particularly in re-sales. In the $450,000-$500,000 range. This price range has the challenge of a surge in new construction homes alternatives. Builders offering end-of-year sale benefits can lure buyers to their products. Sellers with re-sale listings in this price range do need to consider new construction offerings and price aggressively in order to compete.

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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