• Average Raleigh Sales Price: The average sale price rose this month in relation to last February. The average price of homes sold in February was $405,528. That's an increase of 11.5% over last year in February. • Days On Market: The average days on market before a sale dropped dramatically again this month compared to last February. The average days on market for February was 20 days. That's down 45.9% from February last year. • Raleigh Active Listings:This is the BIG one again. Active listings fell, thud, this month. Listings dropped a whopping 66.8% from last year in February. According to the Triangle MLS, "Mortgage interest rates ticked a bit higher in February but remain below their February 2020 levels. Interest rates may rise a bit further in coming weeks, but according to Freddie Mac chief economist Sam Khater, "while there are multiple temporary factors driving up rates, the underlying economic fundamentals point to rates remaining in the low 3 percent range for the year." With rates still at historically low levels, home sales are unlikely to be significantly impacted, though higher rates do impact affordability. For homeowners currently struggling due to COVID-19, government agencies are continuing efforts to help those in need. The Federal Housing Finance Agency announced they will allow homeowners with loans backed by Fannie Mae and Freddie Mac to receive an additional three months of forbearance, extending total payment relief to up to 18 months. Qualified homeowners must already be in a forbearance plan as of the end of February." If you are thinking about selling your home, now is an EXCELLENT time. We're always in need of good homes and know how to prepare and market your home safely during this unusual time. If you're looking for a strong Seller agent, Please Contact us, we'd love to help you sell your home! If you are looking into buying a home, make sure you are Buyer-Ready, and that you are able to make decisions quickly. The best way to do this is to make sure you are with a strong Realtor that knows how to manage these situations and who will keep you on top of all the important information and steps in this challenging time. People are out there and They're Buying Now. If you're looking for an Experienced, Knowledgeable Buyer Realtor to show you around the ins and outs of this market, we'd love to help. We specialize in the Triangle communities and surrounding areas. We sell a lot of homes and we know what we're doing. 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. Wake County Housing Market Updates - February 2021Raleigh Housing Market Updates - February 2021Cary/Apex/Morrisville Housing Market Updates - February 2021Wake Forest Housing Market Updates - February 2021Raleigh Housing Market Report Archives
If you have questions about the Raleigh Real Estate Market,
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