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

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Raleigh Housing Market
December 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

December
2018
1,443
$355,469
27
3,756

December
2019
1,887
$361,448
35
3,218

Annual
Change
+30.8%
+1.7%
+29.6%
-14.3%

December has Warm Weather and a Hot Market

• Raleigh Closed Sales: Home sales rose this month compared to last December. December sales were up by a whopping 30.8%. WOW!

• Average Raleigh Sales Price: The average sale price also rose this month in relation to last December. The average price of homes sold in December was $361,448. That's an increase of 1.7% over last year in December.

• Days On Market: The average days on market before a sale rose this month compared to last December. The average days on market for December was 35 days. That's up 29.6% from last year.

• Raleigh Active Listings: Active listings are down this month. Listings dropped 14.3% from last year in December.

December showed strong economic signs with low mortgage rates, low unemployment, and continued wage growth. Wake County showed a very healthy increase closed sales. All parties involved were thrilled with the 30+% sales increase over last year's December sales. Sellers particularly were pleased to see the supply of homes take another big drop to 1.8 months.

With the continual shortage of re-sale homes, new construction has been on the rise in 2019. Building is going on everywhere and is expected to continue into 2020. The question now is, will building be able to keep up with demands. This uncertainty along with rising home prices may entice homeowners to sell and could, hopefully, bring the overall housing market into greater balance.

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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