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

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Raleigh Housing Market
January 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

January
2013
824
$250,275
111
5,560

January
2014
952
$266,622
93
5,037

Annual
Change
+15.5%
+6.5%
-16.2%
-9.4%

January Brings Stable, Healthy Market!

• Raleigh Closed Sales: January sales were up over 15% from last January's sales.

• Average Sales Price: The January average Raleigh home sales price was $266,622, up 6.5% from $250,275 in January of 2013. Another month of year over year price increases. We remain positive and expect this trend will continue throughout the spring and into the summer.

•Days On Market: At 93 this month. Make good offers, lots of competition out there now. Homes are currently selling on average for 97.5% of asking price.

• Raleigh Active Listings: Active listings now stand at 5,037, down over 9% from last year. If you want to sell this Spring, you need to list Very Soon or you'll miss the season!

Unusually chilly start - but Housing Sales stay warm!

January is always a wait, hold, go fast month. People are generally calming down after the December rush and catching their breath. A sort of reassessment takes place and people pause to reflect. Then the flood gates open! People scurry around fixing up inside their home waiting for the winter to shake loose and start our spring.

This January, the Raleigh Real Estate market is returning to a stable, healthy state. Things to expect in 2014 are an increased seller activity, more new construction and fewer foreclosures in our market.

New Listings in the area are down which leads to higher pending sales. People are out - even in the chilly weather - buying up the good homes that are out there.

As usual, January slowed a bit citywide but we are still busy. Out almost every day with buyers and several of our listings sold. We are running low on listings so if you're a seller, we need more listings, Right Now! We have a couple that will be coming on the market in a couple of weeks but they are expected to move fast.

February is already looking solid for us in spite of the unusually cold weather and we continue to remain very busy and optimistic.

If you're a seller, competition is picking up so make sure your home shows at its absolute best. The homes that show best always sell first! If you're a buyer, there's a lot of new homes expected to show up soon so contact us and we'd be happy to show you around. We're here to help and we ARE NOT pushy sales people! Our business model says, be helpful, answer all their questions and make sure they have a good time. Today's Buyers are Tomorrow's Friends and Neighbors.

We continue to feel quite strongly that if you're a buyer now is the time to pull the trigger. Interest rates are still historically low but we expect them to be higher by the end of this year. You almost certainly will not see lower prices anytime soon and will probably never see interest rates this low again in generations (if ever).

Prices are slowly going up and that's good for sellers. The market is well positioned in a slow steady uptrend which is a good time in the cycle to buy. Whichever Realtor you choose to work with, heed their advice and look closely at the data they provide to you regarding price. They are the local experts and understand prices here. Remember, you can't become an expert on prices here in a weekend, good Realtors here have been doing this for years and know the market. Just pick a good Realtor and you'll be fine:)

We used to live in Alaska, so we understand cold and snow! We moved here years ago and fell in love with the weather. This chilly start to the year is unusual for us and it is a good reminder why we moved here. This too will pass soon and we will be in the mild NC winters that we so love.

We sell a lot of homes every year 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!

If you're looking for No Hassle-No Pressure Realtors to show you around we'd love to help. We specialize in the Raleigh Triangle areas. We're experts on new construction homes, golf properties, and retirement communities. We sell a lot of homes every year 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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