Whiteboxer, Home Seller in North Raleigh, Raleigh...

is now a good time to sell in North Raleigh? What is the avg days on market?

Asked by Whiteboxer, North Raleigh, Raleigh, NC Mon Oct 4, 2010

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Tom Bohlmann’s answer
I agree with Asley here.

North Raleigh or near North Raleigh homes may not appreciate much over the next few years.
Homes are a bit too old, and need too much updating and just may not have the size that new homes or buyers want. Location is the HUGE plus of these homes.

HOWEVER, if homes are priced at close to or less then Tax value, or ~ $100,000 to $120,000 for .4 acs or more. The Lot has more value then the existing home. Then my guess is we will see a few tear downs and build up of $500 to $700,000 homes over the next decade.

This being said, homes in this area do go quickly, when priced properly.

Good Luck

0 votes Thank Flag Link Wed Apr 18, 2012
There are some good comments here. The North Raleigh market often has year around buyers. So the key is to know your specific competition and do your best to research the presence of serious buyers. If they are looking and you are the best value, then it will be the right time of year. But this varies by price range (higher is slower) and neighborhood (some has strong year round deman and others not so). Of course, you cannot control the market. But you can entice it--so focus on making your home look its best.

Here is a brief introduction to the idea: http://www.nccapitalhomes.com/selling-your-home-for-a-high-price
0 votes Thank Flag Link Thu Oct 27, 2011
Hi Whiteboxer, are you still confused with all the different opinions. The best thing to do is talk with a Realtor who is an expert in North Raleigh, like me and my husband. We are a terrific team. Every situation and specific location is different. Depending on your unique situation now may or may not be a good time to sell. Talk with a Realtor and get a detailed comprehensive Comparative Market Analysis so you will have a realistic expectation of what your home might sell for and what you need to do to your home to make it marketable and the next home that a buyer is willing to make an offer on. Selling your home now may be better as a lot of homes come off the market vs competing against the higher volumn in the spring. Really, it just all depends........................
Take Care and best of luck.
0 votes Thank Flag Link Tue Oct 5, 2010
I am have to say I will agree with what both Tom Menges and Ashley Wilson stated. The key at this point in time is to be the nicest home for the best value for the buyers that are ready, willing and able to purchase. What is your reason for wanting to sell?
Web Reference: http://www.kriscuddy.com
0 votes Thank Flag Link Mon Oct 4, 2010
I appreciate all of the candid answers of others, but I do believe each situation is different. I don't believe the new offer to purchase will effect your selling or not. It will be better for you as the seller for sure! I will say this, I do not believe your home will be worth more in the next 3-5 years than it is today. With all of the inventory and the current market, the sooner you sell, the more you will net. I usually have a great fall, and because our weather is so mild, our market is not as seasonal. I specialize in listings, and I have buyer agents who work on the buy side of the transaction. I would love to speak further and help you achieve your goals and dreams. Look forward to hearing from you!

0 votes Thank Flag Link Mon Oct 4, 2010
I am actually telling sellers to wait until Jan/Feb for the Spring market. In the meantime, find the right agent and prepare your home. There is a new NC Offer to Purchase starting in Jan. Because of the changes, I will advise all of my sellers to get a home inspection done before putting their house on the market, and making most of the repairs. This will take any seller quite a lot of time, so it is not too early to begin.

When you do sell, what are your plans? Are you leaving the area, downsizing, moving up? Your next plans may affect how you sell your home.

Good luck with your decisions.
Web Reference: http://CrazyVivHomes.com
0 votes Thank Flag Link Mon Oct 4, 2010
Hello Whiteboxer
I just prepared a CMA for my seller in North Raleigh, Smoketree. If you would I would be happy to do the same for you, it will give you an idea of where similar homes are selling and days on market etc, but keep in mind days on market is usually closely tied to neighborhood and pricing.
0 votes Thank Flag Link Mon Oct 4, 2010
If you would like to send me some information on your home, I will have a complimentry local market report sent to your email. The information will be sent by an experienced specialist from your area, who is approved by Leading Real Estate Companies of the World. My email is CSzieber@crossroadsrealtynj.com
Celia Szieber
Crossroads Realty
0 votes Thank Flag Link Mon Oct 4, 2010
Historically speaking, spring is generally the best time to sell in any market with the greatest number of people looking for homes. The fall market is always better than the winter market and will often be better than the summer market. Your decision to sell needs to be based on your need to sell, not on your desire to maximize your return as the current buyer's market is unlikely to maximize your gains. The TARR report (attached reference) indicates that the current days on market (DOM) for homes sold in Wake County is 104, but it doesn't breakdown North Raleigh specifically and includes all areas of the County including many areas with high DOM's.. It is also interesting to observe that in the top selling subdivisions (which had combined 25,000+ showings in the month of August alone)(most of these subvisisions are North Raleigh & Cary) the average time on market for current active properties is 130 DOM. The message is clear that a home needs to be priced correctly or it will stay on the market way beyond the normal DOM time.
0 votes Thank Flag Link Mon Oct 4, 2010
The average days on market vary by location in North Raleigh. Condition and price point are important variables too. Right now there are more homes for sale than buyers. Homes that are well prepared and price for the market sell first. Buyers are very discriminating in what they want to see and what price they want to pay for a house. Having an experienced and savvy agent on your side is a must in this market. It takes a combination of many skills to sell a house in this market. I'd be happy to provide you with some specific market data. Just remember that data tells what has happened and doesn't predict what will occur in the future. Drat...my crystal ball is on the blink!
0 votes Thank Flag Link Mon Oct 4, 2010
Homes are selling in North Raleigh for sure and there has never been a better time to buy. We can look at your situation specifically. You could be a situation that it makes sense to sell. Its about price and condition! Let me know if I can help. I am in north Raleigh. Ashley http://www.raleighrealestate411.com
0 votes Thank Flag Link Mon Oct 4, 2010
Hi, Whiteboxer. As cited below, days on market will vary by location, price point, condition of the house and the individual agent's marketing plan and track record in getting houses *sold*. I'm very active with listings - including some in North Raleigh - and I share with my Sellers that this is a market for the motivated. There are more Sellers than Buyers across the board and it is not a time to 'test the market' - at least not if you really want to get the house sold. For motivated Sellers, however, homes are being sold - and not necessarily being 'given away'. Working with an experienced agent is just critical for Sellers today - showings are down and only agents with very strong marketing programs are getting to first base with Buyers. Happy to speak with you and share more about why my Team is getting such high marks from Sellers in this market!
0 votes Thank Flag Link Mon Oct 4, 2010
Keep in mind that when you are ready and need to sell, no matter the area, it's always a good time to sell--as for average days--they will vary, based on location, price, property size, schools, condition, etc.
0 votes Thank Flag Link Mon Oct 4, 2010
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