March Market Update: Raleigh
Let’s recap the Raleigh market in March as we move through April! Mark Spain Real Estate has summarized the key real estate trends of the Raleigh real estate market so you can stay well-informed and make the best decisions.
Raleigh Market: The Hard Facts
- Number of active listings was down 8% from the previous month
- The average days on market units spent before being sold was down 16%
- Median sales price of a home in Raleigh was at $309K
- The number of units sold increased 19% month over month
What Does This Mean For You?
Buyers, the decrease in the active inventory listings in the Raleigh market means that buyers who waited to buy may have had a smaller selection to choose from. The median sales price of homes in March slightly increased from $304K in February to $309K in March. This increase indicates that buyers may need to negotiate deals to receive a better price compared to last month.
Sellers, the amount of days a home spent on the market decreased from 59 to 49 days. This lower amount of days may signal a positive trend in the local inventory turn over rate! The number of units sold increased increased 19% month over month. This upward monthly sales trend indicates a positive momentum in the Raleigh market. Overall, it looks like Raleigh is currently in a sellers market, with the median home sales prices increasing and buyers taking advantage of the opportunities in the Raleigh market!
Mark Spain Real Estate is here to help you make smart and informed real estate decisions. Navigating the real estate market can be difficult, and you don’t want to do it alone. With Mark Spain Real Estate, you’ll get maximum exposure to your Raleigh home. Our team knows this city and surrounding neighborhoods and your experience is our top priority. Contact us today to get a head start. If you would like more information or assistance, please contact us here.