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
July 2013

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

Year
2012
1,233
$253,402
108
7,023

Year
2013
1,721
$262,151
84
6,091

Annual
Change
+39.6%
+3.5%
-21.9%
-13.3%

Summer Is In Full Swing - So Is The Market

• Raleigh home sales are up over 39% from last year!

• The July average sales price was $262,151, up 3.5% from $253,402 in July of 2012. We expect this trend will continue throughout 2013.

• The Average Days on Market before a home sells is down to 84 days this month. This time last year it took an average of 108 days to sell a home in Raleigh.

• Active listings now stand at 6,091. That's down over 13% from last year.

• The good news on listings is there were 1,884 new listings in July. That is up from July of 2012 by 10.9%.

We Need More Listings! - Sales are as Hot as the Weather - Call Us!

July was a solid month with more homes sold. Average sales prices were up 3.5% over the same period last year. We remain desperately low on good listings so if you are thinking about selling, now would be a great time! Inventory is tight, homes are selling and we need more listings Right Now!

Same old song, Low Inventory, Sellers Market & Competing Offers. Bottom line: Make good offers, or you'll be out of luck.

However it depends on the price point as to how hot the sales are. Homes priced up to $300,000 are in a sellers's market. Homes priced between $300,000 - $600,000 are in a balanced market between buyer and seller. Homes priced above $600,000 are classified as being in oversupply and considered to be in a buyers's market.

The number of showings is big news this month. July's showings are the 3rd highest in 10 years! That's huge. It shows that people are out there looking - they are looking fast and furious and they're serious about buying. If you get a call for a showing, make it as easy as you can to be scheduled. Make it clean and looking nice and you might just get an offer.

Everybody's getting sick of hearing about interest rates, just know they're going up and that's going to continue. However the interest rates remain at historic lows and even rising rates should not affect our market much. Rising rates will affect new home buyers the most and probably reduce the price point at which these buyers can buy. i.e. some payment sensitive buyers may have to lower their price point slightly to stay in their target payment range.

We can see fall coming in the distance but we're not quite ready to let go of summer yet. Another couple months of swimming and playing outside till the sun goes down. Still plenty of sunshine left for buyers to look and sellers to have successful sales.

Raleigh Home Buyers and Sellers

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,
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