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

Home North Raleigh Homes Midtown Raleigh Homes Raleigh Luxury Homes Wake Forest Homes Cary Homes North Carolina Triangle

Raleigh Housing Market
December 2018

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
2017
1,721
$330,252
32
3,262

December
2018
1,428
$354,377
27
3,8457

Annual
Change
-17.0%
+7.3%
-15.6%
+6.5%

In December We Look Back Over 2018

• Raleigh Closed Sales: Home sales fell this month resoundingly compared to last December. December sales were down by 17%.

• Average Raleigh Sales Price: The average sale price rose this month in relation to last December. The average price of homes sold in December was $354,377. That's an increase of 7.3% over last year.

• Days On Market: The average days on market before a sale fell this month compared to last December. Average days on market for December was 27 days.

• Raleigh Active Listings: Active listings are UP this month! Listings rose 6.5% from last year in December.

December brought both good and not good news - but mostly good.

December is always a great month for reflection. In Real Estate, the question in December is, "What happened, market wise, over the past year?" The market in 2018 brought mostly good news and a flurry of not so great news.

Overall for the year, we had an increase in sales, a decrease in showings and pending sales, listings were flat (win), and the average price of homes rose. On the good side we had more sales and, although listings were flat, that's a good thing because we are coming off months and years of decreased listings. We have been begging for more homes to sell and finally sellers are responding. Plus the average price of homes rose for the year by 5%.

The drop in showings and pending sales can be tied together. In 2018 we had some weather issues that stopped movement in their tracks. Both the hurricanes and the snow kept people inside and hunkered down. This took a couple of weeks off the market. Add to that we have a governmental shutdown that effects both personal finances and the ability to get government loans such as FHA loans approved. Until this gets all sorted out it will be effecting some home sales.

Interest rates went down in December but are predicted to go up next year - possibly twice. We will have to wait to see how this all shakes out.

One important thing we do have going when selling anything is demand. People are moving to the triangle to the tune of 50-60 people a day. With our strong economy, many of these people are investing in homes. The NC Triangle continues to be strong.

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 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 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 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 to market and draw people to sellers homes here. 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

Raleigh Homes For Sale	Raleigh Luxury Homes	North Raleigh Homes	Midtown Raleigh Homes	Raleigh Inside The Beltline	Raleigh New Homes
Raleigh Townhomes & Condos	Raleigh Golf Homes	Cary Homes For Sale	Durham Homes For Sale	Wake Forest Homes	North Carolina Triangle
Raleigh Home Buyers	Raleigh Home Sellers	Raleigh Community Information	Raleigh Fun Stuff	Raleigh Triangle Schools	All About Ed & Erin