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

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Raleigh Housing Market
May 2015

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
2014
1,816
$272,160
52
6,488

May
2015
1,876
$290,550
48
5,389

Annual
Change
+3.3%
+6.8%
-7.6%
-16.9%

May Brings Sun, Summer, and Buyers!

• Raleigh Closed Sales: May sales were shining! Sales were up 3.3% over last year's sales. Buyers are outside and looking at homes!

• Average Raleigh Sales Price: May's average sales price soared up 6.8% over last year's average price. The average sale price for a home in Raleigh is now at $290,550.

• Days On Market: The average days on the market until a home is still going down as the shortage of inventory continues. It now stands at an average of 48 days. That's down over 7% from last year.

• Raleigh Active Listings: The total active listings is still down by double digits. Listings are down almost 17% from last year at this time. The number of homes for sale in May of 2015 stood at 5,389 in Wake County.

The sun has arrived, the weather's warm and the market's HOT

The Raleigh housing Market continues strong as we transition into our summer season. May was another very strong month. Home sales continue to rise. Multiple offers are becoming the expected norm resulting in 13% of re-sales closed above final list price.

As the summer season gets in full swing this 'flying off the shelves' is not, however, even across the board. Homes that are correctly priced are zapped up but the homes that are overpriced are sitting and languishing or going through repeated price reductions. All the current sales are make pricing gaffs very transparent. Consumers with strong agents are shown appropriate pricing for homes. Overpriced homes are just being passed by with 50% of the inventory being on the market for longer than the average days on market - due to pricing for the most part.

If you're a seller, this is a great time to sell! The buyers are out there. Running around looking at homes all day is hard work. Treat every showing as serious and make your home sparkle! Sellers, If you want a top notch agent to list your home, Contact us, we'd love to help you sell your home!

Interest rates are beginning to creep up but so far that has not impacted sales. The Fed is getting closer and closer to raising interest rates this year so the trend in rates remains up. The National Economy continues to improve, particularly on the jobs front.

Although inventory is down, there's new listings every day so plenty of great homes to take a look at. If you're a buyer, the summer is a great time to buy as some sellers are more motivated having missed the spring season. If you want a quick real estate tour, Contact us, we'd love to show you around!

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 me Today at 919-280-2726

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