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

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Raleigh Housing Market
July 2014

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

July
2013
1,748
$263,085
83
6,407

July
2014
1,786
$280,084
78
6,261

Annual
Change
+2.2%
+6.5%
-6.0%
-2.3%

Summer's Long Hot Days Are Here

• Raleigh Closed Home Sales: July's sales are hot as the days! Sales were up in July by 2.2% from last year's July sales.

• Average Sales Price:The July average sales price rose to $280,084. That's up 6.5% from July of 2013. MOST excellent!

• Days On Market: Down to an average of 78 - that's 6% fewer days to sell a home than in 2013.

• Raleigh Active Listings:Active listings are now at 6,261, down 2.3% from last year.

It's a Fun in the Sun Month

July was a good solid month with sales and home sale prices up over last year overall. Average sale price was up 6.5% over -ast year and the number of July sales was up 2.2% over 2013.

Our inventory is low and as the summer begins its long walk toward fall, the prospect of more homes coming on the market begins to wane. Although tight credit standards are still hurdles to cross, lenders are slowly easing credit standards for home loans.

With the approaching fall we do expect the days on market until a sale to continue to drop and the good homes that are priced right to be snapped up. We still have a lot of strong sales days. All is well and these are excellent market conditions.

The National Economy continues to slowly improve with most economic indicators continuing to trend upward. We still hope/expect to see stronger economic numbers for the 3rd and 4th quarters of this year.

The FED continues to monitor its bond buying program. Some economists predict the FED will begin slowly increasing rates sometime in mid 2015, although any robust economic indicators in the next quarter or two could move that rate increase forward into the first half of next year. We follow this closely as it is a precursor to increased mortgage rates.

As you are looking for some fun on these hot July days why not take a cool dip in our local pools. Here are great places to splish and splash Raleigh Public Swimming Pools

If you're looking for a No Hassle-No Pressure 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. We love meeting people and helping them find their Dream Home. Contact us and we can help you too :-)

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

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