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

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Raleigh Housing Market
February 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

February
2013
980
$231,543
109
5,811

February
2014
944
$254,644
99
5,325

Annual
Change
-3.7%
+10.0%
-9.2%
-8.4%

Baby It's Cold Outside

• Raleigh Closed Sales: This February was colder by far than last year and the closed sales show we don't like the cold. Sales are down this month by almost 4% from last year at this time.

• Average Sales Price: The February average sales price was $254,644, up 10% from $231,543 in February of 2013. We remain positive and expect this trend will continue throughout the spring and into the summer.

• Days On Market: It stands at 99 this month and that's down 9.2% from last year. This makes sense when you have a limited inventory. The brave souls that ventured out in the cold wasted no time in buying up the homes that looked good.

• Raleigh Active Listings: Active listings now stand at 5,325, down 8.4% from last year's 5,811. If you want to sell this Spring, you need to List Right Now or you'll miss the season and we need those homes!

The unusually cold weather kept people tucked inside.

February was cold. We aren't used to this coldness and local buyers, for the most part, stayed inside to keep warm. However, we had an avalanche of buyers from the northeast corridor calling us to say, "We're leaving and heading south." The infamous Polar Vortex is blowing people our way. There is an upside to everything!

Lots of our listings sold last month and we need more. We have buyers waiting in the wings for the "perfect home" If you're thinking about selling, Call me!

If you're a seller, people have been stuck inside and now they are ready to go. Our calendar is packed with people from the North coming down in April and May with the sole purpose of buying a home. Get Ready! Make sure your home shows at its absolute best or you'll be left in the dust. The homes that show best always sell first! If you're a buyer, 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.

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. Frankly we're surprised rates are staying at these lower levels.

Inventory that usually hits the market now is a little delayed with the cold so the choices out there now are getting a lot of action. We expect a large increase in the next month. 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.

If you're looking for a No Hassle-No Pressure Realtor to show you around we'd love to help. We specialize in Raleigh, Cary and the surrounding areas. We're experts on retirement properties, new construction, furrowing out the best properties. We sell a lot of homes a 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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