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

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Raleigh Housing Market
December 2016

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

December
2015
1,599
$291,925
49
3,580

December
2016
1,582
$312,305
43
3,128

Annual
Change
-1.1%
+7.0%
-12.2%
-12.6%

Pleasant Weather Greets December ~ Winter in Raleigh - ahhhhh

• Raleigh Closed Sales: December sales show a small dip. This month's sales were down 1.1% from last year.

• Average Raleigh Sales Price: December average sale price increased again this month by a big jump! The average price of homes sold in December was $312,305. That's an increase of 7.0% over last year.

• Days On Market: The average days on market before a sale continues to fall and took another step downward. Days on market now stands at 43 days. That's down 12.2% from last December.

• Raleigh Active Listings: Active listings are down again this month. Listings are down 12.6% from last year.

Market is Busy - Buyers are Buying

The 2016 year ends strong with consistent performance seen throughout the year. The number of homes for sale is down this month again and those homes that are for sale are selling in fewer days and for higher prices. We are telling buyers to make your best offer the first time - you'll probably only get one chance. We are now strategizing to forestall multiple offers with buyers.

The sweet spot is the $200,000 - $250,000. The new normal in that price range is a feeding frenzy - for homes that show well. Buyers out number sellers and competition is tight. Higher price points offer some breathing room but not much.

Spring buyers are already planning buying trips. We are preparing for a very strong spring. We feel the Spring selling season will start much sooner this year. The overwhelming feeling about residential real estate for the future is optimism. Real estate professionals across the nation are expressing that they are as busy as ever. Raleigh is one of the top markets in the nations so we are looking strong but constantly in need of more listing.

So, if you've been thinking about selling your home, Now is the Time. We're in need of good homes that are prepared for strong buyers. People are out there and They're Buying Now - and more are on their way. Don't delay to get 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 a No Hassle-No Pressure 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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