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

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Raleigh Housing Market
December 2017

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
2016
1,598
$312,563
35
3,414

December
2017
1,695
$330,181
32
2,940

Annual
Change
+6.1%
+5.6%
-8.6%
-13.9%

Same Old Song ~ Inventory Remains Low

• Raleigh Closed Sales: December sales were up from last year by by a good 6.1%.

• Average Raleigh Sales Price: The average sale price rose again this month. The average price of homes sold in December was $330,181. That's an increase of 5.6% over last year.

• Days On Market: The average days on market before a sale dropped this month. Days on market now stands at 32 days. That's down 8.6% from last December.

• Raleigh Active Listings: Active listings are down again this month. Listings fell 13.9% (ouch) from last year in December.

Tight Inventory still gives strong sales numbers

Sales were up from last December! Chilly weather and the Holidays still could not deter our closed sales. We were up from last year as buyers never stop looking for homes in this tight inventory situation. Housing demand remained incredibly strong in 2017, even in the face of higher mortgage rates that are likely to increase in 2018.

With home sales strong and low inventory the average prices of homes was, again, over $300,000. Buyers may not benefit from higher prices, but sellers do, and there should be more listing activity by more confident sellers in 2018. The conditions continue to improve for sellers with multiple offers commonplace. In December, 65% of resale homes sold between 1-30 days. Eighteen percent of these sales were above final list price. Fifteen percent of homes listed in December are currently in closed or pending status.

With these strong numbers, builders and Realtors are both cautiously optimistic for the year ahead. Housing and economic indicators give reason for this optimism.

There is always a plethora of information out there about Real Estate. It is very important, now more than ever, to have a strong Realtor that knows the market and all areas of the market. It is still a fantastic time to both buy and sell!

If you've been thinking about selling your home, Now is the Time. We're always in need of good homes that 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 we'd love to help. We specialize in the Triangle communities and surrounding areas. We sell a lot of homes so we know what we're doing in this high demand/low inventory situation. We love meeting people and helping them find their Dream Home. 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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