April Market Update: Raleigh
As summer approaches, let’s not forget to pay attention to the changing Raleigh market! Mark Spain Real Estate has summarized the key real estate trends of the Raleigh April market so you can stay well-informed! We strive to deliver an unparalleled client experience, and curating market updates is one way we do so.
One of our core values is to constantly grow and improve as a company and as individuals. We encourage our team members to participate in numerous trainings, podcasts, and research to further grow their knowledge in all areas. Because of our desire to consistently learn more, we have set ourselves apart by being the most knowledgable in the industry. This enables us to create monthly market updates. To learn more, continue reading to absorb the Raleigh Market Update for April!
The Hard Facts: Raleigh Market
- The number of active listings decreased 7% from the previous month
- Average number of days units spent on the market before being sold was down 25% compared to last year
- The median sale price for a home in Raleigh market was at $315K
- The number of homes sold decreased 6% month over month
What Does This Mean for You?
Buyers, according to the April Raleigh market update this smaller inventory means that those who waited to buy may have had a smaller selection to choose from. Fewer number of homes sold in the Raleigh market allows for buyers to negotiate better terms.
Sellers, according to the April Raleigh market update the number of days home spent on the market decreased from 54 to 40 days this April. This lower number of days may signal a positive trend in the local inventory turnover rate, as sellers are able to sell their home faster than last year. The median sales price increasing from $309K in March to $315K in April signals that sellers are receiving more money for their homes compared to last month. The number of homes sold decreasing month over month is simply indicative of the unprecedented time we are going through.
In April, we are seeing the sellers market continue to be in favor. This is advantageous for you, as you can sell quicker and for more money than before. To maximize your homes exposure, allow Mark Spain Real Estate to assist you in selling your home! We have multiple programs to fit our sellers needs and to increase the efficiency of your process!
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 coupled with an unparalleled level of customer experience. Our team knows the Triangle area market well, and your experience is our top priority. Contact us today to get a head start.