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

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Raleigh Housing Market
June 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

June
2017
2,392
$338,279
22
4,182

June
2018
2,245
$354,519
19
3,778

Annual
Change
-6.1%
+4.8%
-13.6%
-9.7%

June ~ Summer is in Full Swing

• Raleigh Closed Sales: Home sales dipped this month compared to last year in June. June sales were down 6.1%.

• Average Raleigh Sales Price: The average sale price rose this month. The average price of homes sold in June was $357,519. That's an increase of 4.8% over last year.

• Days On Market: The average days on market before a sale dropped resoundingly this month compared to last year. Average days on market now stands at 19 days. That's down 13.6% from last June

• Raleigh Active Listings: Active listings are down this month. Listings fell 9.7% from last year in June

Time to Jump in the Market - Splash!

The inventory of homes was down again this month compared to last year. We dipped down 6.1% which is not good news, however it is better than the double digit spiral we experienced last summer. We are also not alone. Housing markets across the nation are in the same situation. That doesn't help you if you are a buyer, but I just wanted you to feel like you had company:)

On the good news side, the homes that are for sale are receiving and accepting strong offers. The average sale price rose by 4.8% over last June. This month the average sale price is $354,519. Following closely on the heels of that is a drop in the Days On Market (DOM) before a sale. DOM dropped a whopping 13.6% over June of last year and now stand at 19 days with multiple offers often expected.

Buyers must be ready to offer quickly and have an experienced Realtor guide them through the multiple offer situation with re-sales or the building process with new construction.

There is always a plethora of information out there about Real Estate. It's very important, now more than ever, to have a strong Realtor who 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 which 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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