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

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Raleigh Housing Market
August 2015

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

August
2014
1,663
$275,222
52
6,199

August
2015
1,758
$289,539
36
5,391

Annual
Change
+5.7%
+5.2%
-30.8%
-13.0%

August Heat Continues ~ Raleigh Market is Hot

• Raleigh Closed Sales: August sales were strong and up 5.7% over last year's sales.

• Average Raleigh Sales Price: August showed an average sales price of $289,539. That's 5.2% over last year's average price.

• Days On Market: The average days on the market is now at the lowest it's been in 4-5 years. It now stands at 36 days. That's down over 30.8% from last year - huge drop!

• Raleigh Active Listings: The total active listings continues to dwindle. Listings are down over 13% from last year. The number of homes for sale in August stood at 5,391 in Wake County.

Pricing - Inventory - New Construction

Pricing a home correctly and how long a home is on the market are tied at the hip. We now have two distinct pools of homes for sale. Homes that are priced correctly are absolutely flying off the market with multiple offers common. Homes that are not price properly and getting few to no showings. Buyers are close to totally ignoring overpriced homes.

As the Fall approaches, pricing becomes even more critical for the winter market. Make sure you have an agent who can guide you to a strong and appropriate price for you home and you will be first and foremost with the winter group.

The inventory of homes for sale still continues the downward trudge. Our months supply of homes is now down to 3.5 months. That's down over 30% from last year. Sellers, there are buyers out there every day and homes sell in the fall and they sell quickly. If they show well and are priced well you can still be in the win column by Thanksgiving. Give us a call and we will start the ball rolling.

Builders have taken notice of the lack of inventory and New Construction homes are everywhere! Here's what it looks like this month: Resale Inventory is down and New Homes inventory is up. If a buyer can't find an existing home they like - they have it built.

We are having more new construction sales than ever. So, if you're a buyer and don't see what you want - I guarantee it can be built. From a totally custom home to a perfect retirement home or starter home we can walk you through the process. New construction is everywhere in the Triangle!

The National Economy continues to slowly improve. Almost all economic data points continue to slowly grind upward continuing to support improving real estate markets across the nation.

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 me Today at 919-280-2726

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