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

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Raleigh Housing Market
October 2020

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
2019
1,842
$363,264
29
4,348

October
2020
2,129
$394,656
16
2,270

Annual
Change
+15.6%
+8.6%
-44.8%
-47.8%

October Brings Beautiful Foliage and Beautiful Sales.

• Raleigh Closed Sales: Home sales were up again this month compared to last October. October sales were up by a 15.6%.

• Average Raleigh Sales Price: The average sale price rose this month in relation to last October. The average price of homes sold in October was $394,656. That's an increase of 8.6% over last year in October.

• Days On Market: The average days on market before a sale dropped this month compared to last October. The average days on market for October was 16 days. That's down 44.8% from October last year.

• Raleigh Active Listings: Active listings fell dramatically this month. Listings dropped a whopping 47.8% from last year in October.

According to the Triangle MLS, "October continued to be busier than the calendar normally suggests. Buyer activity remains higher than normal for this time of year, while in many segments of the market housing supply remains much lower than one year ago. Multiple offers remain a common occurrence in many areas, keeping housing hot while the temperatures continue to fall.

Mortgage rates dropped to new record lows again in October, helping to offset the monthly mortgage payment increases caused by the rise in home prices seen in many segments of the market across the country. While prices often dip a bit in the winter months, continued buyer demand may temper any price retreats this year."

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 safely during this unusual time. 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. Both buyers and sellers are doing well. If you're looking for a strong Seller agent, Please Contact us, we'd love to help you sell your home!

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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