Raleigh Real Estate Market - December, 2015
HOMES FOR SALE BY CITY
December 2015 was a great time to sell your home in the Raleigh, NC area as homes sold for north of $275,000.
November was the hottest month of 2015, and for good reason. There was a lack of inventory, and demand was high. A great combination for selling a house.
What is shocking is how many people want to start looking at houses on January 2nd. The serious buyers just hit the market, and with a full head of steam, and New Year's Resolutions. That is why January is the best month to sell in Raleigh, NC!
The data from the end of 2015 is shaping up towards a great start for the Raleigh housing market in 2016. Our personal data is showing the same signs as our analytics are up greater than 50% from the month of December.
NC is one of the fastest growing states, and the Raleigh area is the leader in growth. This is thanks to the number of people moving to Raleigh, NC. The Winter months in the northeast are typically the one's that cause enough pain for people to want to move, between the weather, the property taxes, and the lack of opportunity.
This all contributes to January being the best month to sell a house in the greater Wake County area.
People buy homes with emotion. Whether they had a tough time buying in the summer months, want to move down from the North, or simply want to be in a new house after the holidays, there are a number of reasons one would pay top dollar for real estate in Raleigh, NC!
If you're looking to buy a house in Raleigh, NC here is how you do it. There are things you will need to know about mortgages when buying a home in the Wake County area as well as specific benefits to being a first time home buyer in Raleigh, NC!
There are plenty of job opportunities in the Raleigh, NC area and Glassdoor.com just ranked Raleigh as the #1 best place to work in the United States.
There are top Raleigh area neighborhoods for families, retirees, young professionals, and college grad students. Apex and Cary, NC are two of the top cities in the United States.
Housing Trends in Raleigh, NC December 2015
1.7% - is the year over year appreciation in average selling price for residential homes in Raleigh from December 2014 to 2015.
Homes for sale in Raleigh sold at an average price of $275,071 which is down from November by $15,000.
The average days on market is 54 days, which means homes are selling in under 2 months on average.
Raleigh Homes Sold for LESS in DECEMBER
In the month of December, homes for sale in Raleigh, NC sold for $15,000 less on average, than they did in November.
Homes for sale in December sold for less than they did in November and by a lot ($15,000). This is still a decent month to be a seller though as it is around the yearly average for 2015, on the heels of the best month (November) in 2015. Homes in Raleigh reached their yearly high here in the month of November and have since seen a natural pullback in December.
Days on market per sale has stayed pretty consistent on average. In December, the 54 days on market is in the same ballpark as the prior months.
Raleigh Real Estate - Sales in December
Raleigh homes in December, on average, sold for $275,071 which is down $15,000 from November.
Homes that sold in the month of August were at the highest point, right around $284,000, and then November came in and beat it out. Since August, there was a low of $265,000 in September, and a high of $285,000 in November. With December coming in right around average, $275,000.
Selling your Home in Raleigh in December
It isn't always a great time to be a seller in the Raleigh area, however the late fall/Winter seems to be the best.
In fact, there are times when you can go several years in a row that it will be a bad time to sell (check out the years after the mini-crash in 08-09).
If you wait to sell your home in the spring, you will be selling at the same time as everyone else... It just means you need to market better than everyone else.
Raleigh Real Estate - Market Activity December 2015
December 2015 Numbers
$282,058 - The average listing price for homes that sold in December 2015
$275,071 - The average sale price for homes that sold in December 2015
97.52% - The list to close price ratio for homes that sold in December 2015
54 – Average Days on Market in December 2015
Raleigh Real Estate - Market Analysis December 2015
The homes in Raleigh, NC are selling much faster than they did last year, by 20 days on average. The price differential between December 2014 and December 2015 is less than the average appreciation seen year over year, partly thanks to the holidays and cold weather. It also came on the heels of the strongest month Raleigh, NC has seen in 2015, which was November.
The low inventory levels continue, especially here in the Winter months. This may not remain true come Spring 2016, so consider selling now, when others are not!
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!