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

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Raleigh Housing Market
June 2021

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
2020
2,220
$376,006
24
2,998

June
2021
2,443
$463,458
7
980

Annual
Change
+10.0%
+23.3%
-70.8%
-67.3%

School Is Out ~ SPLASH!

• Raleigh Closed Sales: Home sales rose this month compared to last June. June sales were up by 10.0% over June of last year.

• 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 $463,458. That's an increase of 23.3% over last year in June.

• Days On Market: The average days on market before a sale dropped dramatically again this month compared to last June. The average days on market for June was 7 days. That's down 70.8% from June last year.

• Raleigh Active Listings:This is the BIG one again. Active listings fell, thud, this month. Listings dropped a whopping 67.3% from last year in June.

According to the Triangle MLS, "School's out, and as vaccination rates rise and America enters a new normal, the U.S. housing market continues along at a frenzied pace, with low interest rates and limited inventory fueling record high sales prices. May saw the median existing-home sales price exceed $350,000, a 24% increase and the largest year-over-year increase since 1999, according to the National Association of REALTORS. Eager buyers are making multiple offers, some for well over asking price, while others are making offers on homes sight unseen.

The increase in sales prices comes with a slight decline in existing home sales nationwide, as homebuyers struggle with declining affordability amid a lack of inventory, forcing some buyers to simply wait it out in hopes of more inventory and less competition. Meanwhile, home builders are trying to meet the increased market demand, with housing starts up 3.6% in May from April, according to the Commerce Department. As we ease into new routines and look forward to a post-pandemic future, one thing remains certain: America desperately needs more homes."

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 during this incredible time. If you're looking for a strong Seller agent, Please Contact us, we'd love to help you sell your home!

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.

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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