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!
The Hard Facts: Raleigh Real Estate 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, 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, 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.
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.