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

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Raleigh Housing Market
October 2021

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
2020
2,137
$394,519
16
2,453

October
2021
1,940
$477,360
9
1,203

Annual
Change
-9.2%
+21.0%
-43.8.6%
-51.0%

October Brings NC Beauty Out In Full.

• Raleigh Closed Sales: Home sales fell this month compared to last October. October sales were down by 9.2% over October of last year. The low inventory continues to be a factor in this decrease.

• 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 $477,360. That's an increase of 21% over last year in October.

• Days On Market: The average days on market before a sale dropped dramatically again this month compared to last October. The average days on market for October was 9 days. That's down 43.8% from October last year.

• Raleigh Active Listings:This continues to be a major issue. Active listings fell again this month. Listings dropped a whopping 51% from last year in October.

According to the Triangle MLS, "The U.S. housing market remains robust, with strong activity reported across both rental and residential housing fronts. Single-family rent prices are increasing rapidly, as demand for single-family housing and inventory constraints forces some buyers to rent, increasing competition and pushing rents up across the nation. Meanwhile, sales of new construction single-family homes recently hit a six-month high, rising 14% to a seasonally adjusted rate of 800,000, according to the latest data from the U.S. Department of Housing and Urban Development.

As temperatures drop, existing home sales continue to be plentiful, buoyed by strong demand, low interest rates, and a slight uptick in new listings in recent months, according to the National Association of REALTORS. With interest rates inching upward, and experts expecting further rate increases on the horizon, motivated buyers are hoping to lock in their home purchases to take advantage of what are still historically low rates."

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 during this incredible time. If you're looking for a strong Seller agent, Please Contact us, we'd love to help you sell your home!

If you are looking into buying a home, make sure you are Buyer-Ready for this competitive market. 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.

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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