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

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Raleigh Housing Market
January 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

January
2015
997
$261,206
61
3,829

January
2016
1,014
$281,586
52
3,189

Annual
Change
+1.7%
+7.8%
-14.8%
-16.7%

Great Market Conditions as the New Year Begins

• Raleigh Closed Sales: January sales are up a bit from last year's January sales. January sales were up 4.7% from last year.

• Average Raleigh Sales Price: January had a nice upward momentum in the average sales price in the Raleigh area. The average price of sold homes in January was of $281,586. That's in increase of 7.8% over last year.

• Days On Market: The average days on market before a sale continues to drop and now stand at 52. That's down almost 15% from last January.

• Raleigh Active Listings: The number of active listings continues to roll downhill. Listings are down 16.7% from last year. Ouch.

A Calm January in Raleigh

The Market started off stronger than last year with January seeing increased sales and prices compared to last year. As the inventory of homes shrink, the homes out there sell faster and push the prices up.

If you've been thinking about selling your home, Now is the Time. We're getting ready for the height of the spring season. If you want to catch this spring season, you need to get listed right away. Remember, it usually takes a little time to get going on a new listing. You need to get your home ready for showing, the advertising needs to be created, and all the paper work needs to be completed.

People are out there and They're Buying Now so don't delay to get your home in front of them. People are still coming to NC in droves. Around 70% of our January sales were to people from New York and California. If you're looking for a strong producing agent, Please Contact us, we'd love to help you sell your home!

All market indicators remain positive as we head into Spring and we are anticipating strong numbers in the Spring sales. We are looking for a continued climb in sales and prices as we head into 2016.

The Election cycle is heating up with early states already voting in the primaries. It's all about the election for the next several months. The Economy is also very much in focus as economic conditions continue slowly improve. Interest rates are still historically low although the FED did bump up rates very slightly in December. It's about a toss-up if they continue to raise rates or not. There are strong arguments on both sides of this issue.

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 me Today at 919-280-2726

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