Feb 26, 2014
For instance, Daily Finance recently released its list of “5 Surprising Housing Markets on a Big Hot Streak.”
And – you guessed it –Raleigh made the list!
What’s So Hot About the Raleigh Real Estate Market?
According to Daily Finance, Raleigh is expected to have the second hottest real estate market for the year 2014.
Myrtle Beach came in first at number 1. Rounding out the list of 5 were:
- Colorado Springs, CO
- The Villages, FL
- Daphne, AL
So what exactly makes analysts think that Raleigh is going to have a great year?
For one thing, our city boasts a diverse economy that is strongly rooted in such growing industries as technology industry, higher education and healthcare. It also has a reliable manufacturing industry.
This has all helped to build up the local housing market. Here’s what experts are seeing lately on the real estate market:
- 6,511 new homes were sold in 2013
- That’s an impressive 18 percent increase year-over-year.
Recent data released by Trulia shows the same kind of trends:
- The median sales price for Raleigh homes between October and January was $209,000, up 0.5 percent from the year before.
- Sales prices have appreciated 10.9 percent over the last five years.
- Average price per square foot in Raleigh was $121 during the week ending Jan. 8, up 1.7 percent from the same period last year.
Buy a Raleigh, NC Home Today!
To get in on this great time on the Raleigh, NC real estate market, please contact me, Rachel Kendall, and my team of Wake County real estate experts.
Until next time,