Raleigh Real Estate Market Update April, 2015
We would like to start by thanking the Raleigh Regional Association of Realtors® and Triangle MLS for providing the data in this report. The Raleigh Real Estate Market statistics from April 2015 have been released.
Real Estate trends in Raleigh continue their strong performance. Homes are selling for 6.62% more in April of 2015 than they did in April of 2014. This is great news for homeowners.The inventory of homes for sale is significantly lower which is creating a great seller’s market. Below you will find information as it relates to trends in the Raleigh Real Estate Market.
Raleigh Real Estate Market Activity For Sold Homes
770 residential homes sold in the month of April 2015. This is down from 772 homes sold in April 2014.
April 2015 Numbers
$266,025 - The average listing price for homes that sold in April 2015 - $266,025
$260,641 - The average sale price for homes that sold in April 2015
97.98% - The list to close price ratio for homes that sold in April 2015
58 – Average Days on Market
April 2014 Numbers
$248,088 - The average listing price for homes that sold in April 2014 - $248,088
$244,439 - The average sale price for homes that sold in April 2014
98.53% - The list to close price ratio for homes that sold in April 2014
70 – Average Days on Market
Raleigh Real Estate Market Analysis
It’s a great time to be a seller in this market. There is a low supply of homes, and a high demand, creating a great sellers market.
The growth of Raleigh continues as people are continuing to move to the area. Rental prices are skyrocketing which is creating pressure for renters to begin looking to buy. Most people don’t realize they can afford to buy a home today. The days of needing a 20% down payment for a mortgage are gone. There is a good chance your monthly mortgage payment here in Raleigh will be less than the amount you are paying in rent. Here is everything you need to know about mortgages in Raleigh.
Data is prepared by Ryan Fitzgerald a local Raleigh Realtor. These numbers are specific to the city of Raleigh and do not include the surrounding areas of Durham, Chapel Hill, Cary, Apex, Holly Springs, Morrisville, Fuquay-Varina, Garner, Clayton, Wake Forest, and Hillsborough.
Hi there! I'm Ryan Fitzgerald, a REALTOR in Raleigh-Durham, NC and the owner of Raleigh Realty. Chances are you and I share a similar passion, Real Estate! I also have a passion for technology, sports, and people. Would love to hear from you. Drop me a note in the comments section below and feel free to share this article socially!