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

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Raleigh Housing Market
June 2020

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
2019
2,152
$359,454
22
4,348

June
2020
2,208
$375,555
24
2,738

Annual
Change
+2.6%
+4.5%
+9.1%
-37%

June Real Estate Activity Is Strong

• Raleigh Closed Sales: Home sales were up this month compared to last June. June sales were up by 2.6%.

• Average Raleigh Sales Price: The average sale price rose this month in relation to last June. The average price of homes sold in June was $375,555. That's an increase of 4.5% over last year in June.

• Days On Market: The average days on market before a sale rose this month compared to last June. The average days on market for June was 24 days. That's up 9.1% from June last year.

• Raleigh Active Listings: Active listings fell dramatically this month. Listings dropped a whopping 37% from last year in June.

According to the Triangle MLS, "While much of the country was working on a phased reopening of the economy in June, real estate activity continued to strengthen as well.

While buyer activity continues to be robust, seller activity continues to be a bit softer, with fewer homes being listed for sale than a year ago. Many housing experts believe sellers remain reluctant to list their homes due to continued concerns over COVID-19, which was beginning to see a resurgence in June. Until sellers regain confidence, housing inventory will continue to be constrained during what is expected to be an active summer selling season.

Market-wide, inventory levels were down 36.1 percent. The property type that lost the least inventory was the Townhouse-Condo segment, where it decreased 21.0 percent. That amounts to 1.6 months supply for Single Family homes and 1.3 months supply for Townhouse-Condo."

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. Ask for guidance as you maneuver either as a buyer or seller.

If you are thinking about selling your home, now is an EXCELLENT time. We're always in need of good homes and know how to prepare and market your home safely during this unusual time. If you are looking into buying a home, make sure you are Buyer-Ready, and that you are able to make decisions quickly. The best way to do this is to make sure you are with a strong Realtor that knows how to manage these situations and who will keep you on top of all the important information and steps in this challenging time. People are out there and They're Buying Now. Both buyers and sellers are doing well. 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 the ins and outs of this market, we'd love to help. We specialize in the Triangle communities and surrounding areas. We sell a lot of homes and we know what we're doing. 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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