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Raleigh Housing Market
November 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

November
2013
1,161
$270,724
55
5,780

November
2014
1,161
$271,383
61
4,996

Annual
Change
0.0%
+.2%
+10.9%
-13.6%

Thanksgiving Time and Market Takes a Breather

• Raleigh Closed Sales:November sales are exactly where they were in November of last year. 1,161 homes sold last year in November - 1,161 homes sold this year in November.

• Average Raleigh Sales Price: Good news! The November average sales price was up to $271,383. That's up 2% from November of last year.

• Days On Market: The average days on the market until a home sells is now at 61 in Wake County. That's up from last November's 55 days.

• Raleigh Active Listings: The total active listings are down by a 13.6% from last year - part continual thin market - part seasonal.

Some Quick Conclusions

Home Sales: in November were exactly where they were at this time last year. The Market is in our standard slower season as people focus on family and friends. Markets are active but not frantic, it's a great time to shop for a new home right now at a slower pace. If you're looking for the perfect home, We've Got It...Come take a look!

No other way to say it except - Home sales were becalmed this month - no movement from last year. If we look a little closer however we can see that New Construction home sales rose 10 over last month where existing home sales dipped bit - resulting in a zero gain.

We had a little burst of activity in early November but as usual we expect the second half December will be slow due to the holidays. January will quickly ramp up and should be a strong month for sales.

Interest rates remain low and Lenders continue to very slowly ease credit standards for home loans. Both Fanny Mae and Freddie Mac have announced pending decreases in down payment requirements expected to kick in very soon.

The National Economy continues to steadily improve with a strong jobs report issued in early December. It now looks like the 4th quarter will close stronger than expected which should bode well for real estate markets both locally and nationally.

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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