June Market Update: Raleigh
As the month of June comes to a close, we’ve seen Summer officially kick into gear! With warm weather in full swing, the Summer real estate market is already upon us. While we’re excited for the arrival of July, let’s not forget to recap the changes seen in June! We have summarized the key trends of Raleigh’s June real estate market for you. Knowing these facts can ensure you can make well-informed decisions and stay in the know!
The Hard Facts: Raleigh Market
- The current median sold price of a home is up by 5.5% from this time last year, moving from $267k to $282k
- Supply of available homes is up by 3.6% from this time last month
- A home’s average days on market is down 6.4% from last month, with a slight drop from 49 to 46 days
What Does This Mean For You?
We’re living in what experts are calling the “Bargain Belt” – the Southeast is showing some dynamic growth, but the cost of living is still relatively low. Industries continue to relocate to Raleigh, which brings a natural influx of homebuyers; this trend shows no sign of slowing down anytime soon. We’re also seeing signs of a natural summer market.
Buyers, Raleigh is primarily a college town, which means Summer is always slower, and explains the lower supply of homes than in other markets. However, Raleigh’s inventory has increased since last month, giving you more options to find your dream home. Don’t miss out on this opportunity and start searching today!
Sellers, the average days on market is lower than last month. Timing is everything, so now is the perfect time to get your home listed on the Raleigh market before the school season starts again in the Fall!
No matter what chapter of life you’re in, if you are looking to sell or buy a home, make sure you are represented by a professional, full-time agent with years of experience under their belt.
Thinking about moving? Navigating the real estate market can be difficult, and you don’t want to do it alone. At Mark Spain Real Estate, we are here to help! Contact us today to get a head start.