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

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Raleigh Housing Market
February 2017

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
2016
1,107
$282,263
54
3,389

February
2017
1,169
$307,038
47
3,122

Annual
Change
+5.6%
+8.8%
-13.0%
-7.9%

February - Chilly Temperatures Don't Stop Buyers!

• Raleigh Closed Sales: February sales are up from last year. Sales were up 5.6% from last February.

• Average Raleigh Sales Price: February average sale price rose again this month. The average price of homes sold in February was $307,038. That's an increase of 8.8% over last year.

• Days On Market: The average days on market before a sale continues keeps its downward track. Days on market now stands at 47 days. That's down 13.0% from last February.

• Raleigh Active Listings: Active listings are down again. Listings are down 7.95% from last year at this time.

Buyers are out strong - Sellers happy!

February brings in a wave of good news about a stock market and active home sales. Home prices continued to rise. The low inventory and affordability is showing to be particularly hard on first-time buyers trying to get into the market. Here, and across the country, buyer activity is easily outpacing seller activity resulting in quick sales and low supply.

Sellers are often getting multiple offers in the affordable price points. That's great, however the issue for some sellers becomes concerns that there will not be homes to choose from when they become buyers. The situation becomes most challenging for sellers who need to sell before they buy. In this quick selling market, sellers needing to sell first to qualify for a loan for their next home, find their next home is gone before they can jump on it - leaving them out in the cold. Make sure you have a knowledgeable Realtor to maneuver this dicey terrain.

If you've been thinking about selling your home, Now is the Time. We're in need of good homes that are prepared for strong buyers. People are out there and They're Buying Now - with more on the way. Don't delay to get your home in front of them. With this current shortage, you will be in prime position. If you're looking for a strong Seller agent, Please Contact us, we'd love to help you sell your home!

If you're looking for a Experienced, Knowledgeable Buyer 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 in this high demand/low inventory situation. We love meeting people and helping them find their Dream Home. Contact us and we can help you too :-)

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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