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Raleigh Housing Market
January 2013

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

Year
2012
637
$235,161
126
6,589

Year
2012
817
$259,461
112
5,327

Annual
Change
+38.3%
-6.1%
-10.5%
-19.2%

A Great Month into a Happy New Year in the Raleigh Home Market

• Raleigh home sales continue to rise - again, by 28.3% over a year ago.
• It took, on average, a half month less to sell a home than it did in January 2012.
• Average prices increased by a whopping 6.1% over last year in January.
• But - inventory of homes for sale was less, by a disappointing 19.2%

What a Great Start

Yes indeed, what a great start, except for that last very disappointing bit of information. It is frustrating to see fewer homes for sale than last January when all but two indicators in the Raleigh housing market show a positive trend.

Is that really the case? Yes, it is. Just take a look at the following major indicators. Six show an improvement over January 2012. Only two show negative results. The first negative is the reduction in the number of homes for sale. The second negative is number of months, at current sales levels, before there would be no more homes for sale.

Sellers' Market

The Months Supply of Homes for Sale is now down - 35.5% from last year. There are only 4.8 months of inventory. This is an important number. Experts consider it a seller's market if the home inventory is five months or less. We are turning from a buyer's market to a seller's market.

These indicators should be major wake-up calls for folks who may be sitting on the fence in terms of placing their homes on the market.

• Closed Sales: +28.3%
• Median Sales Price: +6.7%
• Average Sales Price: +6.1%
• Total Sales Dollar Volume: + 36.2%
• Percent of List Price Received: 96.9% ( + 0.2% )
• Days on Market: - 10.5% (This is a good minus!)
• Homes for Sale:- 19.2% (This is a bad minus!)
• Months Supply:-35.5%

How did January get its Name?

Once upon a time, there was a Roman god whose name was Janus. He was believed to be the god of the doorway - the doorway into the New Year. Doorway? Yep. That thing which allows entry into a home. What an interesting combination.

This January was indeed a great doorway into a New Year of wonderful home sales in the Raleigh area.

Folks, this market is doing everything it can to create a 'shout-out' to home owners who have been waiting for the right time. This is the right time!

• Limited competition!
• Higher prices!
• Fewer days to sell your home!

For those of you who are looking to buy a home - now's the time.

• Low, Low interest rates!
• Prices are going up. Buy now before they go higher!
• Save up to 45% or more by buying, if you are currently renting!

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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