December Market Update: Raleigh
The month of December is reaching its end! As we gather with family and friends to celebrate the holidays, let’s not forget to pay attention to the changing market. Mark Spain Real Estate has summarized the key trends of the Raleigh December 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 345k, up 4% from this time last month
- Inventory has shown a decrease of 15% from last month and currently is at 3,447 units
- A home’s average days on market is currently 35, remaining even from this time last year
What Does This Mean For You?
Sellers, even with seasonality, the low inventory provides plenty of opportunity. This is simply a natural product of the holidays. However, buyer demand is high so if you are in a time crunch to sell, now is a great time to list! There is a lot of pent-up buyer demand, so we are firmly in a seller’s market right now. Additionally, there is great opportunity for buyers to try and grab their dream home while having 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 January is a great time to take advantage of the Raleigh real estate market!
Does the Raleigh December 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.