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

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Raleigh Housing Market
November 2019

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

November
2018
1,556
$357,139
27
4,088

November
2019
1,654
$366,082
30
3,683

Annual
Change
+6.3%
+2.5%
+11.1%
-9.9%

November Shows Strong Seasonal Metrics

• Raleigh Closed Sales: Home sales rose this month compared to last November. November sales were up by 6.3%.

• Average Raleigh Sales Price: The average sale price also rose this month in relation to last November. The average price of homes sold in November was $366,082. That's an increase of 2.5% over last year in November

• Days On Market: The average days on market before a sale rose this month compared to last November. The average days on market for November was 30 days. That's up 11.1% from last year.

• Raleigh Active Listings: Active listings are down this month. Listings dropped 9.9% from last year in November.

November brought strong economic signs and the third reduction of the benchmark rate by the Federal Reserve. What this translated to in the Triangle Housing Market was an increase in the average sale price, under-contract sales numbers up over 22%, new construction booming, and a drop in the Months Supply of Inventory to 2.3 months.

Interestingly, showings were up compared to November last year by 8%. Tie that with a decrease in inventory and you have the perfect mix for supporting a rise in prices. More showing, less inventory - bam! Higher sales prices. That is what we are seeing in the Triangle with a steady price increase year-to-date.

So, as we head toward December and end-of-year numbers we are looking back at a very strong year. With interest rates low and a stable mortgage rate adding to confidence in the market, it looks as if our winning streak will follow through December and set up January for an similar rocking year.

There is always a plethora of information out there about Real Estate. It's very important, now more than ever, to have a strong Realtor who knows the market. Ask for guidance as you maneuver either as a buyer or seller.

If you've been thinking about selling your home, Now is the Time. We're always in need of good homes which are prepared for strong buyers. People are out there and They're Buying Now and both buyers and sellers are doing well. Don't delay getting your home in front of them. With this current shortage, you will be in prime position. 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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