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

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Raleigh Housing Market
May 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

May
2013
1,749
$264,701
89
6,563

May
2014
1,809
$271,786
82
6,302

Annual
Change
+3.4%
+2.7%
-7.9%
-4.0%

Here Comes the Sun, Here Comes the Sun!

• Raleigh Closed Sales: May's sales are up! Sales were up this month by almost 3.4% from last year at this time.

• Average Sales Price: The May average sales price was $271,786, up 2.7% from $264,701 in May of 2013. Another month of year over year price increases. We remain positive and expect this trend will continue throughout the summer.

• Days On Market: Dropped to 82 this month. Make good offers, lots of competition out there now. Homes are currently selling on average for about 97% of asking price.

• Raleigh Active Listings: Active listings now stand at 6,302, down a bit over 200 units from last year. If you want to sell during the Summer, you need to List Right Now!

Market Warms Up, Buyers Come Out of the Cold!

May brought us back to normal seasonal averages with buyers coming out and over 1800 homes selling. Buyers are active in the market and June is looking good as we head into summer.

If you're a seller, the cold winter drove a lot of buyers south and they are serious and knowledgeable. They did their reading while they were snowed in! Make sure your home shows well, and if you have a pool, make sure it Really Sparkles! The homes that show best always sell first! If you're a buyer, we're here to help and we ARE NOT pushy Realtors! Our business model says, first and foremost, Listen! Listen to your clients (many realtors don't). Be helpful, answer all their questions and make sure they have a good time.

Real Estate is Local, you've all heard that a zillion times. But what does that really mean? The best analogy seems to be: "it's just like the weather" It might be sunny and warm in North Carolina while it's cold and wet in Washington or Oregon. Your town may be sunny and bright while your friends town across the state line might be having thunder and lightning storms.

Real Estate is Local, you've all heard that a zillion times. But it's so true. Each of our surrounding towns has different things affecting its market, i.e. location, access to transportation, or Recreational Opportunities which affect their individual markets. The thing to remember is, that while you might fully understand the market in Wake Forest, it is very different than the market in Cary, which is different than the Holly Springs Market.

Pick a good Realtor wherever you're looking and look closely at the data they provide to you regarding price. They're the local experts and understand prices here. Every local market is different. Usually people look all over the Triangle and good Realtors here have been doing this for years and know each of the markets. Just pick a good Realtor and you'll be fine:-)

Inventory is still down - down 4% from last year but there's still lots to look at so that's good for buyers. Prices are slowly going up and that's good for sellers. Our market appears pretty well balanced right now and is well entrenched in a slow steady uptrend.

Active listings in Wake County now stand at 6,302, down over 260 units from last year. The Spring season is just about over now and the summer season is just starting up. If you missed the spring season, List Right Now to catch the summer crowd and you can be on to your next home by the end of the summer!

The May average sales price was $271,786, up 2.7% from $264,701 in May of 2013. Another month of year over year slow and steady price increases. We do expect this trend will continue throughout the summer.

If you're looking for a No Hassle-No Pressure 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. 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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