Raleigh Housing Market
June 2012
Homes in Raleigh
Data from Triangle Multiple Listing Service
Closed Sales
Average Sales Price
Average Days On Market Until Sale
Number of Homes For Sale
|
Year
2011
1,176
$260,607
113
9,106
|
Year
2012
1,425
$259,544
113
5,946
|
Annual
Change
+21.2%
-.04%
-.05%
-34.7%
|
Active Listings Continue to Decline
• Raleigh home sales were, again, up - by 21.2% over last June.
• Average Raleigh home prices were up again by 1.7% over last month.
• It took about as long to sell a home in Raleigh this June as last June.
• Raleigh Home Sellers are still not jumping in - there was a 3% decrease in homes for sale over last month along with the incredible almost 35% decrease from last year's figures.
What Does All this Mean?
The closed indices are positive again this month. The number of sales is up showing both Year over Year increases and Month over Month. The average sale price and the number of days on market are virtually flat this month and there is still a shortage of listings.
Interestingly this presents a unique opportunity for both Buyers and Sellers. For sellers, because of the low inventories their homes see more action. Showings are up and remember sales in June are the result of showings in April and May.
For Buyers, it's a super time because of the continued historic low interest rates. We don't know how long this unprecedented situation will last, but we are convinced it is the buying opportunity of a lifetime. If you're still on the fence about buying, you are missing the boat! This is the perfect opportunity for buyers and it's not going to get better than this!
However, getting a loan is a real pain these days. This article helps explain why: Forbes Magazine has one of the best article we've seen about the process of getting your loan approved in today's market: The Perfect Loan File. If you are looking to buy a home in Raleigh this is an excellent article to explain what you need to have in place to prepare for loan processing and underwriting.
June continues the strong home sales we saw in May even with the incredibly low inventory.
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 Email Us or Call Us Today at 919-280-2726
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