Raleigh Market Update- November 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 November! Take a look at our November 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 54% from last year and down 22% from the previous month
- The median listing price for the month of November was just under $450,000
- The number of days homes are spending on the market is down 43% from the previous year
- The median sales price for the month of November was just over $400,000
- The number of units sold has decreased 1% year over year and decreased 2% month over month
What does this mean for you?
Buyers, the decrease in the number of active listings represents a smaller selection of homes for buyers to choose from during this time of year. 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 43%. 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.