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

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Raleigh Housing Market
December 2013

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

December
2012
1,165
$256,226
104
5,370

December
2013
1,388
$274,232
87
4,836

Annual
Change
+19.1%
+7.0%
-16.3%
-9.9%

The Year Comes to a Close - A Year of Good News

• Raleigh Closed Sales: December sales were strong. Closed sales were up 10% over last December's numbers.

• Average Sales Price: The December average sales price was $274,232, up 7% from $256,226 in December of 2012. Another month of year over year price increases. We remain positive and expect this trend will continue throughout the spring and into the summer.

•Days On Market: At 87 this month. Make good offers, lots of competition out there now. Homes are currently selling on average for 98% of asking price.

• Raleigh Active Listings: Active listings now stand at 4,836, down over 9% from last year. If you want to sell this Spring, you need to list Very Soon or you'll miss the season!

Inventory is increasing heading into the New Year, now's the time to buy!

December was a Very Strong month with over 1,300 homes sold. This normally slow month was up almost 20% over last year.

January could very well be another record month as there's lots to choose from right now and interest rates are still low. The feelings of optimism about the economy is showing and that optimism stimulates sales. All indicators point to a continuing improvement in the national economy next year and we're hoping that turns out to be the case.

If you're a seller now make sure you make it easy for your home to be shown and make it sparkle. The homes that show best sell first. If you're a buyer, there's lots to choose from with some really nice homes available. Contact us and we'd be happy to show you around. We're here to help and we ARE NOT pushy sales people! Our business model says, be helpful, answer all their questions and make sure they have a good time. These people we're showing homes this week might be our neighbors in a couple months.

We feel strongly that if you're a buyer it's the time to pull the trigger. Interest rates are still historically low but we expect them to steadily grow much higher. If you're a "fence sitter", now is the time hop down off the fence. You almost certainly will not see lower prices anytime soon and will probably never see interest rates this low again in generations (if ever).

Although still low, inventory is picking up so there's more choices for buyers and that makes house hunting fun. Prices are going up and that's good for sellers. We continue to advise people: Make good offers and don't mess around or somebody else will be living in your dream home! We can help you with all the data you need to make a good informed decision on what to offer for that home you have fallen in love with.

There were 1,042 New Listings in December so there's lots of interesting new homes to look at. We expect New Listings to Increase in January as some sellers wait till after the holidays to get their homes all spruced up and ready to put on the market.

Our weather is a bit chilly for us but we have no snow shovels out. If you are buried under the white stuff in the north - get rid of that shovel, pack up the kids and come on down - we can't wait to see you!

If you're looking for No Hassle-No Pressure Realtors to show you around we'd love to help. We specialize in the Raleigh/Cary areas. We are experts on relocation and introducing people who are either new to North Carolina or new to a particular area of town. We also specialize in new construction homes and getting that perfect home built just the way you want it!

We sell a lot of homes every year 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!

As usual December was busy early but slowed dramatically the last couple weeks as people got in the holiday mode. January is expected to be very strong as we start to shake off the old year.

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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