Raleigh Market Update- August 2021
The real estate market remains strong! Homes are staying on the market for a shorter period of time and are selling for higher prices than before! Let’s not forget to pay attention to the changing Raleigh Market for the month of August! Take a look at our August 2021 Raleigh Real Estate Market Update for the month to understand the residential real estate activity in your area.
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Hard Facts- Raleigh Market Update
- The number of active listings is down 63% from last year and up 1% from the previous month
- The median listing price for the month of July was just under $440,000
- The number of days homes are spending on the market is down 66% from the previous year
- The median sales price for the month of July is $390,000
- The number of units sold has decreased 14% year over year and decreased 15% month over month
What does this mean for you?
Buyers, the increase in the number of active listings represents a larger selection of homes for you to choose from. The decrease in the number of units sold indicates better terms for buyers to negotiate. Finding a dream home is possible for buyers!
Sellers, the number of days on the market is down 66%. This indicates a positive trend in the local turnover rate. Sellers are able to sell their homes quicker and for more money in this market! The rising competition in the market represents a rise in the median list price.
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. That’s why we are grateful to provide up-to-date information for our clients to stay informed about recent residential real estate trends. Our team knows the Raleigh market well, and your experience is our top priority. Take advantage of the real estate market now and get your home sold FAST! Contact us today to get a head start.