Raleigh Housing Market
February 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
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Year
2012
807
$234,398
124
6,764
|
Year
2013
969
$230,951
109
5,549
|
Annual
Change
+20.1%
-3.0%
-11.5%
-18.0%
|
Much News From a Short Month
• Raleigh home sales continue to rise - again! 20 months in a row.
• Average sales prices decreased by about $4,000. How could that be in a growing market? Many 1st time home buyers purchased townhomes because single family homes were not available. (See below).
• It took less time to sell a home in Raleigh compared to last February.
• Now for some really disappointing news: There were 1,200 fewer homes in Raleigh for sale than last February.
Housing Market Excellent for Sellers
This is a very important message for folks who would like to sell their homes, but have been waiting for the market to improve.
Not that many years ago, in human history, many people refused to set sail for lands beyond the horizon. It was believed that "There be dragons" or, at least the edge of the World. Actually, there was much scientific evidence going back to the time of ancient Greece (and beyond), that the World did not have an "edge" to it. Many folks just chose to disregard these pieces of evidence. Many just sat there.
But, a few brave souls did, in fact, venture out. We are here because they set sail. It is time for Raleigh home owners to set sail by marketing their homes. The evidence is clear: Twenty (20) months of increasing sales! All aboard! Raise the sails! The horizon is calling!
"Sellers Market Developing As Housing Inventory
Hits A 13-Year Low" Forbes February, 2013
This is beginning of a Raleigh sellers' market. We are even beginning to experience a degree of multiple offers which we have not experienced for several years. This happens when there are too few homes to satisfy the pent-up demand from buyers wanting and needing to buy homes.
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.
When the extremely low interest rates which are presently available is added to the mix, this is the time for sellers to strongly consider placing their homes on the Raleigh market. (These historically low rates have begun to creep up over the last two months. Still very low, but moving up.)
• "Home sales hit highest rate in 3 years." CNN
• Raleigh, 10th fastest growing city in country. US Census Bureau
• Raleigh NC: #2 Best Places for Business and Careers; #1 America Most Wired Cities 2010; #1 America Safest Cities 2010.-Forbes
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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