Raleigh NC Real Estate Market Is Showing Encouraging Gains This Month!

Home Selling 4If you’re considering listing your Raleigh, NC home on the market anytime soon, you’re sure to be encouraged by the latest data on the market.

Evidently, the median sales price has shown year-over-year increases on the market here, as has the average price per square foot.

This suggests that now is a great time to get a great price for your home. Continue reading to learn more about these encouraging trends!

The Current State of the Raleigh NC Housing Market

Here are the highlights of the latest Raleigh real estate market report:

  • Currently there are 2,308 homes for sale on the market, including 606 in some stage of the foreclosure process.
  • Between July and October, the average price per square foot for a Raleigh home was $124, up 4.2 percent from the same period last year.
  • Also, the median sales price during that time was $220,000, based on 749 home sales.
  • When compared to the same period last year, the median home sales price increased 1.4 percent, or $3,000.
  • And the total number of home sales decreased 57.6 percent.
  • Here’s how other communities stacked up in terms of median sales price
    • Chapel hill – $324,500
    • Durham: $192,500
    • Garner: $184,500
    • Apex – $291,750
  • During the week ending on Oct. 7, the average listing price for Raleigh homes was $344,643, down 0.1 percent when compared to the week before.
  • During the previous week, the average listing price was $344,990.
  • Some of the most popular neighborhoods in Raleigh (including Northeast Raleigh and North Raleigh) have an average listing price of $188,291 and $371,890 respectively right now.
  • Broken down specifically, the average listing price for a 1-bedroom home in all of Raleigh was $170,084 during the week ending on Oct. 7.
  • The average listing price for a 2-bedroom home was $163,584.
  • The average listing price for a 3-bedroom home was $237,824.
  • And the average listing price for a 4-bedroom home was $451,211.
  • Here’s how other communities compared in terms of average listing price:
    • Chapel hill- $487,158
    • Durham – $254,215
    • Garner – $236,083
    • Apex – $388,344

We’re Your Dedicated Raleigh NC Housing Market Experts

We hope you found the above information insightful as a prospective Raleigh home seller. As you can see, sellers just like you are seeing plenty of gains on the local housing market.

For more insight on the current state of the market and how it may impact you as a home seller, please be sure to connect with us at The Rachel Kendall Team.

We would love to assist you by answering any questions you might have as well as providing you with some valuable home selling resources.

Until next time,

Rachel

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