Raleigh, NC
Housing Market
Raleigh's housing market is dynamic, with home prices and demand constantly shifting. Houzeo's housing market report monitors these fluctuations, providing real-time insights into Raleigh's supply and demand trends. Our report equips you with all the information you need to make well-informed decisions.
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Buy or SellRaleigh Housing Market Overview
The Raleigh housing market offers various properties, from modern apartments to historic homes, that cater to different budgets and lifestyles. The Raleigh real estate market has seen significant activity in recent months. Currently, the median sale price is $438,500, up by 14.8% YoY. Properties typically sell within 45 days, which reflects strong demand.
Over the years, Raleigh has experienced steady property value growth, driven by its thriving economy, excellent schools, and desirable quality of life. Home sales remain robust, with 294 homes sold recently. Raleigh's real estate market is a key contributor to North Carolina's economy. Known for its vibrant cultural scene and Research Triangle Park, Raleigh attracts buyers from across the country. To succeed in this market, sellers can price their houses in Raleigh, NC, strategically, and highlight unique features to stand out from the competition.
Over the years, Raleigh has experienced steady property value growth, driven by its thriving economy, excellent schools, and desirable quality of life. Home sales remain robust, with 294 homes sold recently. Raleigh's real estate market is a key contributor to North Carolina's economy. Known for its vibrant cultural scene and Research Triangle Park, Raleigh attracts buyers from across the country. To succeed in this market, sellers can price their houses in Raleigh, NC, strategically, and highlight unique features to stand out from the competition.
Median Sale Price
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Raleigh Housing Supply
Raleigh is an attractive market for real estate investors due to its strong demand and growing tech industry. The number of Raleigh homes for sale has increased to 1,066, which includes 531 new listings entering the market. This gives buyers more options to choose from. The Raleigh housing supply currently stands at 3.6 months, which indicates a competitive market where sellers have the upper hand.
Housing in Raleigh typically fluctuates based on seasonal trends. During the spring and summer months, the market typically sees a spike in home listings. Both sellers and buyers remain active, aiming to close deals before the school year starts or the season shifts toward fall. Raleigh offers an appealing lifestyle with a mix of urban conveniences and suburban charm, which drives demand and inbound migration to the city. Popular neighborhoods like North Hills, Cary, and Brier Creek boast a variety of property types, from townhomes to condos. Raleigh's solid job market, top-tier schools, and access to major highways and airports further entice buyers.
Housing in Raleigh typically fluctuates based on seasonal trends. During the spring and summer months, the market typically sees a spike in home listings. Both sellers and buyers remain active, aiming to close deals before the school year starts or the season shifts toward fall. Raleigh offers an appealing lifestyle with a mix of urban conveniences and suburban charm, which drives demand and inbound migration to the city. Popular neighborhoods like North Hills, Cary, and Brier Creek boast a variety of property types, from townhomes to condos. Raleigh's solid job market, top-tier schools, and access to major highways and airports further entice buyers.
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Raleigh Housing Demand
Raleigh's real estate market has seen a shift in competition recently. 22.8% of homes sell above their list price, while 62.3% of homes experience price reductions. This reflects a change in pricing strategies. Moreover, the sale-to-list price ratio has reached 98.7%, meaning that most sellers receive close to their asking price for homes. In this market, the sale-to-list price ratio will determine which party has the negotiation power.
As a home seller, pricing your house correctly from the start can help you avoid price reductions. If it's a buyer's market, you could offer concessions instead of lowering the asking price right away. If the sale-to-list price ratio is around 100%, expect to receive close to your asking price. However, buyers may still try to negotiate lower offers. If you're a buyer, focus on homes with extended listing periods. Also, consider homes with previous price reductions, as these may give you opportunities to negotiate.
As a home seller, pricing your house correctly from the start can help you avoid price reductions. If it's a buyer's market, you could offer concessions instead of lowering the asking price right away. If the sale-to-list price ratio is around 100%, expect to receive close to your asking price. However, buyers may still try to negotiate lower offers. If you're a buyer, focus on homes with extended listing periods. Also, consider homes with previous price reductions, as these may give you opportunities to negotiate.
Homes Sold Above List Price
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Strong
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Balanced
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Strong
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Buyer’s Market
Seller’s Market
Balanced: Neither buyers nor sellers dominate the market. Supply meets demand, prices stay stable, and both parties negotiate on an equal footing.
Raleigh Housing Market: When to Buy or Sell?
Raleigh's housing market has historically cycled through buyer-friendly and seller-friendly conditions. Just like the broader North Carolina real estate market, the Raleigh housing market can favor both buyers and sellers based on seasonal trends. When competition is low and inventory rises, buyers have more leverage to negotiate. Conversely, when demand surpasses supply, sellers enjoy higher prices and faster sales.
Moreover, if the months of Raleigh's housing supply rise above the balanced conditions of the US real estate market (5 to 6 months), it can give buyers more time to evaluate their options. Understanding these market forces can help you strategically time your purchase or sale.
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Frequently Asked Questions
How have Raleigh house prices changed over the past year?
Over the past year, the median home price in Raleigh, NC, has increased by 14.8% to reach $438,500. Raleigh's real estate market remains dynamic, with both single-family homes and condos seeing significant value appreciation. You can check your home's fair market value with our free home value estimator to decide on your initial asking price, and compare it with other properties in your area.
What are Raleigh real estate market predictions for 2025?
Raleigh home prices are expected to continue growing in 2025. The city's housing demand remains strong, in line with trends across the North Carolina housing market. However, rising mortgage rates may affect affordability for some buyers, making it important to monitor the market closely.
What's the average home price in Raleigh, NC?
Raleigh's average home price varies depending on the type and size of the property. Condos typically average $265,000, while single-family homes cost around $495,000. Raleigh offers a variety of options for both first-time homebuyers and investors. If you're looking to buy, there are cheap houses for sale in Raleigh, NC that can fit your budget.
Is this a good time to buy a home in Raleigh, NC?
First, assess the current housing market trends in Raleigh, such as housing prices, inventory levels and competition. Buyers may find good opportunities when inventory increases and mortgage rates stabilize.
Where can I check Raleigh housing market trends?
The city's housing market tends to stay relatively stable year-round. Homes in Raleigh typically stay on the market for a median of 42 days, which varies by the area and demand. If you're looking to invest in Raleigh real estate, you can check current housing market trends to decide on the best time to act.
When will the Raleigh housing market crash?
Based on current housing market forecasts, a crash in Raleigh is unlikely. In fact, prices are expected to rise steadily through 2025, with the market remaining stable. However, with an increase in inventory levels, there may be price adjustments as supply grows to meet demand.
What is the process of buying a house in Raleigh?
Begin by setting a clear budget and getting mortgage pre-approval. Then, you can search for houses for sale in Raleigh, North Carolina, submit offers, secure financing, and finalize the closing process.
How can I list my home for sale in Raleigh, NC?
You can list your Raleigh home using a Flat Fee MLS North Carolina listing service. Platforms like Houzeo help you avoid agent commissions by automatically assigning the right MLS paperwork for your location. 🚀
What is the average mortgage rate for buyers in Raleigh?
The average mortgage rate for buyers fluctuates between 6.8% and 7%. However, it depends on the market and your credit score. Always check current rates with multiple lenders before you apply.
What is the cost of living in Raleigh, NC?
Raleigh's cost of living is 3% lower than the national average, so it's a relatively budget-friendly city. Housing costs in Raleigh are 8% less than the US median, with the median property value at $438,500. Additionally, utility costs are 10% lower than the national average, which makes Raleigh ideal for those seeking a balance of urban amenities and affordability.
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