Mar 04, 2015
The Raleigh real estate market saw some gains during the month of February, despite some setbacks.
For instance, although the total number of home sales decreased, the average price per square foot actually increased.
If you’re considering whether to buy or sell your home on the Raleigh real estate market anytime soon, I encourage you to read today’s blog to learn more about the current state of the housing market!
What Buyers And Sellers in Raleigh Should Know
Here’s an overview of the current state of the market in Raleigh, based on the most recent market data:
- Currently there are 2,324 homes for sale on the market, including more than 700 that are in some stage of the foreclosure process.
- Between November and February, the average price per square foot for Raleigh homes was $128, up 7.6 percent when compared to the same period last year.
- Also, the median sales price for homes here was $200,000, based on 1,094 home sales.
- Compared to the same period last year, the median home sales price decreased 7.5 percent, or $16,250.
- And the number of home sales decreased 22.8 percent.
- During the week ending on Feb. 18, the average listing price for homes was $355,799, up 1.7 percent from the same period the week before.
- During that previous week, the average listing price was about $3,500.
- Popular neighborhoods in Raleigh include North Raleigh and Northeast Raleigh, with average listing prices of $370,273 and $186,066, respectively.
- Here’s a closer look at average listing prices in the city:
- For 1 bedrooms, the average listing price was $176,562.
- For 2-bedrooms, the average listing price was $172,175.
- And for 3- and 4- bedrooms, the average listing prices were $251,947 and $458,568, respectively.
How Can We Help With Your Raleigh Real Estate Needs
We hope you found the above information insightful as a Raleigh home buyer or seller.
And if you’d like further help expertly navigating the market here, please make sure to contact us at The Rachel Kendall Team.
We have years of experience helping buyers and sellers just like you by offering expert advice, valuable resources and more! Contact us today to see how we can help make your Wake County real estate dreams a reality!
Until next time,
Rachel