Raleigh Realtor Erin Bohner
Raleigh Real Estate
Raleigh Real Estate
6020 Creedmoor Road, Raleigh, NC 27612 ~ Direct: (919) 624-6726 ~ Cell: (919) 280-2726 ~ Fax: (919) 781-0413 EdandErin@EdandErin.com

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Raleigh Housing Market
August 2014

Raleigh Real Estate

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

August
2013

1,645
$272,133
82
6,290
August
2014

1,650
$274,964
82
6,114
Annual
Change

+0.3%
+1.0%
0.0%
-2.8%

The Dog Days of Summer - Raleigh Market in a Lull

Raleigh Closed Sales: August sales are up from last year's numbers but only by 0.3% - Lull.

Average Sales Price: The August average sales price rose to $274,964. That's up from August of 2013 but only by 1.0% - Lullish.

Days On Market: The average days on the market until a home sells is exactly the same as in 2013 - 82 days. Total Lull.

Raleigh Active Listings: Active listings down 2.8% from last year. Current active listings are at 6,114. Continued decline.

August housing lull expected as people grab the last of summer fun.

August was a steady month and sales did increase slightly over same period last year. This year's end of summer lull was expected but it will bring us into the fall selling season which is usually down from the summer rush.

Despite all predictions, interest rates remain low, however they appear to be waking up a bit. Lenders continue to slowly ease credit standards for home loans and there are homes out there for sale.

New listings are down (good for sellers, bad for buyers). Multiple offers are commonplace now so if you're shopping for a home - be ready to jump when you see the one you want. If you need help understanding what it takes to "be ready" just contact us and we'll give you a quick "how-to" on that one. With inventory this low it's very important to be ready and informed on what to do in multiple offer situation in NC.

The National Economy continues to slowly improve and we now expect to see stronger economic numbers for the 3rd and 4th quarters which should further stimulate the real estate market both locally and nationally.

The FED continues on track to end QE3 in October. Most economists predict the FED will begin slowly increasing rates sometime in mid 2015, although any robust economic indicators in the next quarter or two could move that rate increase forward into the first half of next year. We monitor this closely as it is a precursor to increased mortgage rates.

If you're looking for a No Hassle-No Pressure 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. We love meeting people and helping them find their Dream Home. Contact us and we can help you too :-)

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.

Wake County Housing Market Updates - August 2014

Raleigh Housing Market Updates - August 2014

Inside The Beltline Housing Market Updates - August 2014

Cary/Apex/Morrisville Housing Market Updates - August 2014

Wake Forest Housing Market Updates - August 2014

Raleigh Housing Market Report Archives

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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