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

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Raleigh Housing Market
October 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

October
2013
1,292
$272,491
51
6,095

October
2014
1,489
$232,500
54
5,623

Annual
Change
+15.2%
+.2%
+5.9%
-7.7%

Weather is Cooling but still Fantastic
Golf Courses are all Busy

• Raleigh Closed Sales: October sales are up from last year's numbers by a huge 15.2%!

• Average Sales Price: The October average sales price crept up to $272,988. That's up 2% from October of last year.

• Days On Market: The average days on the market until a home sells is now at 54. Only four days more than last year.

• Raleigh Active Listings: The total active listings are down by a 7.74% from last year.

Ahhh The Perfect Fall - Nice Days and Brisk Evening

October was a very strong month. Raleigh home sales zoomed passed last year's October sales by 15.2%. A huge leap! Prime Listings are flying off the shelves. If you're looking for the perfect home, We've Got It...Come take a look!

Fall decreases the lookie-loos so the slight creep upward of Days on Market (DOM) is seasonal and to be expected.

Active listings once again have fallen. Makes one wonder why, since sales have surged and prices are good. However, there are people out there looking and well prepared listings are still going quickly.

Buyers always like a nice selection of homes to look at. If you are thinking about selling, now is the time when your home will stand out. You may want to have your home up there on the home tour when the holiday travelers come into town - winter buyers are serious buyers.

Interest rates remain low and Lenders continue to slowly ease credit standards for home loans. The National Economy continues to improve with more jobs and lower unemployment (unemployment rate now down to 5.8%, the lowest since 2008). We continue to expect stronger economic numbers for the 4th quarter which should further stimulate the real estate market both locally and nationally.

The FED ended Q3 in October as expected. Most economists continue to predict the FED will begin slowly increasing rates sometime in mid 2015. However, we are starting to hear more about earlier rather than later on that. We monitor this closely as it is a precursor to increased mortgage rates.

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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