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

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Raleigh Housing Market
November 2018

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
2017
1,617
$328,963
27
3,750

November
2018
1,542
$357,805
27
3,803

Annual
Change
-4.6%
+8.8%
0.0%
+1.4%

November Brings Thanksgiving with Mixed Reviews

• Raleigh Closed Sales: Home sales fell this month compared to last year in November. November sales were down by 4.6%.

• Average Raleigh Sales Price: The average sale price rose this month in relation to last November. The average price of homes sold in November was $357,805. That's an increase of 8.8% over last year.

• Days On Market: The average days on market before a sale was exactly the same this month as last November. Average days on market for both years in November was 27 days.

• Raleigh Active Listings: Active listings are UP this month! Listings rose 1.4% from last year in November.

November Brings both good and bad news.

November brought a bag of good/bad news to the table. On the good side, market-wide inventory was up. After so long in the negative territory and begging for market inventory, it's nice to poke our heads in to positive gain. The property type that gained the most inventory was the Townhouse-Condo segment. Looking strictly at that property type, the increase was a whopping 18.8%.

Now on the negative side. Pending sales and closed sales were down this month. Days on market until a sale were static. We don't see this as a trend yet but are keeping our ears to the ground to see what is happening nationally.

On the "could be good, could be bad" front, the average home price continues to rise. This is good but this is also beginning to bring the reality of affordability concerns to the forefront. Looking again at property type, the largest price gain was experienced by the Townhome/Condo segment. Prices rose by 12.3% to $219,000. The price range with the quickest sales was the $137,000 to $198,999 range. The price range that tended to sell the slowest was the the range starting at $309,000 and going up.

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 and all areas of the market. It is still a fantastic time to both buy and sell!

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 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 in this high demand/low inventory situation. We love meeting people and helping them find their Dream Home. 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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