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

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Raleigh Housing Market
March 2018

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

March
2017
1,916
$314,415
33
3,828

March
2018
1,669
$341,559
27
3,301

Annual
Change
-12.9%
+8.6%
-18.2%
-13.8%

March Is Cool Along With Sales

• Raleigh Closed Sales: March sales were down from last year by 12.9%.

• Average Raleigh Sales Price: The average sale price rose this month. The average price of homes sold in March was $341,559. That's a strong increase of 8.6% over last year.

• Days On Market: The average days on market before a sale dropped this month. Days on market now stands at 27 days. That's down 18.2% from last March.

• Raleigh Active Listings: Active listings are down again this month. Listings fell 13.8% from last year in March.

March Show Results of Low Inventory

Sales took a big hit this month compared to last year. This is a direct reflection of the lack of inventory. There are buyers out there but fewer and fewer homes up for sale. The inventory of homes for sale was down a huge 13.8% from last year. You can't buy what isn't there. Buyers have to be ready to offer on what they see when they see it. This low inventory is also reflected in the drop of Days on Market.

All of this is good news for sellers as we see the average sale price rise 8.6%. On average, sellers are getting 99.7% of list price. Buyers must be with a strong agent that knows how to coach them on how to respond in multiple offer situations to make their offer stand out. Multiple offers are now expected on solid listings. However, buyers are also very informed and know what they want. Sellers have to prepare for this new breed of buyers or their home will sit and flounder in the marketplace. Sellers, sit down with a Realtor that knows how to prepare your home for this market and get you the strongest offers and you'll do fine.

Given all our numbers this month, this Spring selling season is predicted to be a very strong one continuing on throughout the rest of the year.

There is always a plethora of information out there about Real Estate. It is very important, now more than ever, to have a strong Realtor that knows the market and all areas of the market. It is still a fantastic time to both buy and sell!

If you've been thinking about selling your home, Now is the Time. We're always in need of good homes that are prepared for strong buyers. People are out there and They're Buying Now and both buyers and sellers are doing well. Don't delay getting 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 an 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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