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Erin Bohner and Ed Williams' Blog

By Erin Bohner and Ed Williams | Agent in Raleigh, NC

Raleigh Housing Market Report - October 2012

Raleigh Housing Market - October 2012

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

Year
2011

840
$244,898
124
7,686
Year
2012

1,119
$253,279
104
5,423
Annual
Change

+33.2%
+3.4%
-16.1%
-19.4%

"What? Home sales up by 33.2% ?You gotta' be kidding !"

• Yes, it's true. Raleigh home sales are up by a third over last October!
• Average Raleigh home prices increased again; this time by 3.4% over last year.
• It took 16.1% less time to sell a home in Raleigh compared to a year ago.
• There are over now 2,000 fewer Raleigh homes for sale than there were last year.

What Does All this Mean?

Studying the data (and each one of the previous 15 months) , we are looking at the very essence of simplicity. Up is the direction the Raleigh housing market is going in. Raleigh homes sales have now increased each and every month for 16 months in a row !

And, now we see a 33.2% major jump up from last month. Kinda' takes your breath away doesn't it?

Added to that, it took 16.1% less time to sell a Raleigh home. We are now down to just a bit over 3 months to sell a home.

That, plus the fact that there was a rather nice increase in the price of a Raleigh home over last year - makes for a sunny outlook. In addition, there was an increase of home sales over last month of approximately 5% .

What a double boon to home Raleigh home sellers! Sell a home faster and for more money to boot. Hard to beat a combination like that isn't it?

Memo to Sellers: All Aboard!.

It's time to call a Raleigh Realtor - a good one - like us:) Really - it is time and let's go over the reasons:

• Prices are up - again!
• Mortgage rates are at unbelievable lows. Good for buyers - and therefore good for you.
• It's easier easier to sell a home when there is a less competition!
• When it only is averaging about 3 months to sell a home, now is the time to position you home for spring buyers - if you wait - you're late.

It really is the time to get your home on the market for the spring onslaught.

In addition, there's wonderful news from the U.S. Census Bureau. The statistics show that during a period from April 1, 2010 through July 1, 2011, Raleigh and Cary were among the 15 fastest growing cities in the U.S.! Raleigh ranked 9th and Cary ranked 8th. Yeah!

And - more! According to CNN: Home prices: Biggest rise in more than 2 years

NEW YORK (CNNMoney) - In another sign of a housing market rebound, home prices posted the biggest percentage gain in more than two years in the third quarter, according to the closely followed S&P/Case-Shiller index.

Raleigh Real Estate

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 - October 2012

Raleigh Housing Market Updates - October 2012

North Raleigh Housing Market Updates - October 2012

Inside The Beltline Housing Market Updates - October 2012

Wake Forest Housing Market Updates - October 2012

Raleigh 2011 Year End Housing Market Report

Raleigh Housing Market Report Archives

If you have questions about the Raleigh Real Estate Market Email Us or Call Us Today at 919-624-6726

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