November Market Update: Raleigh
The month of November is reaching its end! As we gather with family and friends for the Thanksgiving holiday, let’s not forget to pay attention to the changing market. Mark Spain Real Estate has summarized the key trends of the Raleigh November market. Our goal is for you to stay well-informed on current trends!
The Hard Facts:
- The current median list price is currently residing at 370k, a slight decrease of 2% from this time last month
- Inventory has shown a mild decrease of 7% from last month and currently is at 4,573 units
- A home’s average days on market is currently 46, down 2% from this time last month
What Does This Mean For You?
Sellers, even with seasonality, the low inventory provides plenty of opportunity to capitalize on buyer demand. If time on the market is causing you to hesitate, remember Mark Spain Real Estate’s average days on market is 22! December is a great time to sell so we can expect a large amount of activity.
We are firmly in a buyer’s market right now. Entry-level first and second move-up categories are flying off the shelves. Luxury homes are trending towards the buyer’s market. Great opportunity for buyers to try and grab their dream home with plenty of time to shop!
Great economic prospects are on the horizon. 2019 is projected to have a strong finish that will carry into 2020. Overall, the upcoming month of December is a great time to take advantage of the Raleigh real estate market!
Does the Raleigh November market update have you 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.