Raleigh Housing Market Guide
As the capital city of North Carolina, Raleigh promises its visitors and residents thrilling experiences. Referred to as the “Smithsonian of the South,” Raleigh has no lack of museums, restaurants, history, and entertainment for everyone. Because of all it has to offer, the Raleigh housing market has become one of the most coveted in the Southeast.
To get the most out of one of the Southeast’s most sought-after real estate markets, you’re going to need the help of seasoned Raleigh real estate professionals. With extensive knowledge of the Raleigh housing market, your real estate allies at Mark Spain Real Estate can set you up for success. Below, we’ve compiled a handy guide to the Raleigh real estate ins and outs to help hopeful buyers and sellers navigate this market like pros.
Raleigh Housing Market Guide
First things first: buyers and sellers alike should be intimately familiar with any housing market they’re looking to invest in. The same especially applies to Raleigh. Our experts advise sellers and buyers to pay close attention to these particular aspects that impact the landscape of Raleigh housing market.
Median Listing Price
The median listing price in Raleigh is $525,000, as of May 2023.
Number of Active Listings
The number of active listings in Raleigh as of May 2023 is 2,093 listings, up 8% from May 2022.
Days on Market
As of May 2023, the average number of days spent on the market for Raleigh listings is 28 days, up 133% from May 2022.
How Much Do Homes in Raleigh Sale For?
As of May 2023, the median sale price for a Raleigh home is $454,000.
When Is the Best Time to Buy or Sell a Home in Raleigh?
Since 2021, the Raleigh housing market has experienced some exciting waves. If you’re interested in selling your Raleigh home, the summer months may be best for you. With the rush of the school year behind many hopeful homebuyers, the best month to sell your home in Raleigh is in May.
However, Raleigh sellers can also benefit from listing their home in the fall or winter, as these months reap serious buyers, festive home showings, and overall less competition among sellers. Meanwhile, homebuyers might want to wait until October to buy their dream home in Raleigh. With a decrease in home sales in the cooler months of the year, homebuyers may find a great bargain in the mid-Fall.
Our team is among the top three real estate teams in Raleigh, which makes us the ideal partner for your real estate needs. Whether you are buying or selling, we will examine current market conditions to ensure you get the best out of your real estate experience.
How Can I Sell My Home Fast in Raleigh?
There is a lot to consider when trying to sell a home in Raleigh. Raleigh real estate sells like hotcakes, so it’s good to strategize in an attempt to stand out from the crowd. A typical home sells in about 40 days, and 30% of all homes are sold above the list price. A home with attractive features typically sells in about 17 days.
An excellent home-selling strategy must be backed by a team of expert listing consultants. Our team is prepared to assess your unique selling situation so you can sell your home fast. From home staging tips to home renovation advice, there’s nothing our team cannot handle.
What Are the Best Neighborhoods in Raleigh?
Home to iconic residential communities and neighboring some of North Carolina’s top cities, Raleigh offers thriving places to live. Whether you’re a fan of city life or dream of having a home in the suburbs, there surely is an ideal place in or near Raleigh for you.
Fayetteville & Hope Mills
As one of the most critical markets in North Carolina, the Fayetteville and Hope Mills area offers the best of both suburbia and urban life. This area exudes a healthy balance between Southern charm and energizing activities, including restaurants, events, and activities for the whole family.
Durham
Durham is home to some of the most sought-after and beautiful homes in the Raleigh real estate area. As one of the most popular cities in North Carolina, Durham is attractive because of its abundance of gorgeous modernist-, Victorian-, and craftsman-style homes and natural beauty.
Clayton
Charming and conveniently located, Clayton offers all the perks of a small town with proximity to a major suburb. The Clayton real estate market is constantly growing, so buyers need to act fast, and sellers need to be on the lookout for quick offers.
Chapel Hill
Iconic locations, fun activities, and world-class hubs for education—what is there not to love about Chapel Hill? Chapel Hill is a mix of modern living and rich history, offering one of the most unique city experiences in the United States to residents and visitors alike.
Wake Forest
Just north of downtown Raleigh, Wake Forest offers a suburban haven away from the hustle and bustle of city life. With a variety of property types, families and singles alike will find something to love and call home in Wake Forest.
Sell a Home in Raleigh with Mark Spain Real Estate
If you’re in the market to buy or sell a home in Raleigh, look no further than the experts at Mark Spain Real Estate. Our trusted industry professionals are prepared to help you with exclusive insights into the Raleigh housing market. Check out our Guaranteed Offer Program to receive a competitive cash offer on your home in only 21 days, hassle-free. Contact our agents today!
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