May 14, 2014
Home prices continue to rise in the Raleigh area, despite a recent lag in total home sales, according to a recent article I was reading.
Evidently, the Triangle region saw home sales fall 1.3 percent during the month of April.
At the same time, the average sales price actually increased during that same month.
Whether you’re considering entering the market as a home buyer or seller anytime soon, I recommend you continue reading to learn more about the latest trends on the market.
Raleigh Home Sales Data
Here’s an overview of the current state of the Raleigh real estate market, based on data from Triangle Multiple Listing Service:
- The number of new and existing home sales in April decreased to 2,614 sales compared to 2,648 home sales the year before.
- Meanwhile, the number of home sales increased 14 percent when compared to March.
- The average home price continues to rise, albeit at a slower rate than earlier in the year.
- In April, the average sales price for a home was up 2.7 percent to $239,320.
- And the median home sales price was up 2.6 percent to $200,000.
Meanwhile, Trulia recently released data on how the Raleigh real estate market was faring in terms of average listing price.
- During the week ending on May 7, the average listing price for a 1-bedroom Raleigh home was $299,131.
- The average listing price for a 2-bedroom home was $162,152.
- And the average listing price for 3- and 4-bedroom homes were $228,929 and $448,313 respectively.
We’re Here to Help You Navigate Raleigh Real Estate
For more valuable insight on the current state of the real estate market in Raleigh – as well as how it may impact you – please contact me, Rachel Kendall, and the rest of my Wake County real estate team today!
Until next time,