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

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Raleigh Housing Market
November 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

November
2019
1,8670
$367,304
30
3,962

November
2020
1,896
$397,304
15
1,886

Annual
Change
+13.5%
+8.2%
-50.0%
-52.4%

November Has Mild Weather and Hot Sales.

• Raleigh Closed Sales: Home sales were up again this month compared to last November. November sales were up by a 13.5%.

• Average Raleigh Sales Price: The average sale price rose this month in relation to last November. The average price of homes sold in November was $397,304. That's an increase of 8.2% over last year in November.

• Days On Market: The average days on market before a sale dropped dramatically this month compared to last November. The average days on market for November was 15 days. That's down 50.0% from November last year.

• Raleigh Active Listings: Active listings fell dramatically this month. Listings dropped a whopping 52.4% from last year in November.

According to the Triangle MLS, "November saw the Dow Jones Industrial Average top 30,000 for the first time, while mortgage rates reached new record lows again. These new records have provided encouragement for buyers to move forward on home purchases, which continued to remain strong overall for the month.

Prices continued to gain traction. The Median Sales Price increased 9.0 percent to $305,000. Sellers were encouraged as Months Supply of Inventory was down 58.3 percent to 1.0 month.

Showing activity remains higher than the same period a year ago across most of the country, suggesting that strong buyer demand is likely to continue into what is typically the slowest time of year. With inventory remaining constrained in most market segments, sellers continue to benefit from the tight market conditions."

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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