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

Home North Raleigh Homes Midtown Raleigh Homes Raleigh Luxury Homes Wake Forest Homes Cary Homes North Carolina Triangle

Raleigh Housing Market
May 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

May
2016
2,059
$303,704
39
3,819

May
2017
2,014
$331,922
34
3,727

Annual
Change
-2.2%
+9.3%
-12.8%
-2.4%

May Weather Heats Up and So Do Home Prices

• Raleigh Closed Sales: May sales took a small dip compared to last year. Home sales were down 2.2% from last May.

• Average Raleigh Sales Price: The average sale price rose again this month. The average price of homes sold in May was $331,962. That's an increase of 9.3% over last year.

• Days On Market: The average days on market before a sale continues keeps its downward trek. Days on market now stands at 34 days. That's down 12.8% from last May.

• Raleigh Active Listings: Active listings are down again also. Listings are down 2.4% from last year at this time.

Sales Prices are Strong.

May shows good news for home prices. This is the second month in a row where the average price of a home is past the $300,000 mark. With the re-sale inventory still down, new construction is going at it fast and furious. Northwest Wake County is a hot spot with new homes going up as fast as they can build them. New construction has soared up over 19%. As the economy is growing, people are ready to step into home ownership.

There is growing competition during this annual spring selling cycle with high buyer demand. This demand is not expected to diminish in the immediate future. Strong demand, generally thought to a good problem, can creates an affordability issue for some buyers, particularly first-time buyers.

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 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

Raleigh Homes For Sale	Raleigh Luxury Homes	North Raleigh Homes	Midtown Raleigh Homes	Raleigh Inside The Beltline	Raleigh New Homes
Raleigh Townhomes & Condos	Raleigh Golf Homes	Cary Homes For Sale	Durham Homes For Sale	Wake Forest Homes	North Carolina Triangle
Raleigh Home Buyers	Raleigh Home Sellers	Raleigh Community Information	Raleigh Fun Stuff	Raleigh Triangle Schools	All About Ed & Erin