Is Central Raleigh, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Central Raleigh has remained a Buyer's Market.
Housing Prices in Central Raleigh, NC
How much do homes in Central Raleigh, NC cost?
Median Sold Price
$510,000
$375/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Central Raleigh was $510,000 in April 2024, down 4.9% from last year, and the median price per square foot was $375.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $425K | $395K | -7.1% |
2 Bedrooms | $500K | $515K | +3.0% |
3 Bedrooms | $587.5K | $587.5K | 0.0% |
4 Bedrooms | $787K | $1.0M | +33.4% |
5+ Bedrooms | $315K | - | N/A |
Summary: Central Raleigh housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.1%, 2 bedroom homes increased by 3%, 3 bedroom homes did not change, 4 bedroom homes increased by 33.4%, and 5+ bedroom homes did not change.
Housing Supply in Central Raleigh, NC
How many homes are available in Central Raleigh, NC?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
48 | 49 | +2.1% |
Summary: The Central Raleigh real estate market had 49 homes for sale in April 2024, a 2.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 8 | 9 | +12.5% |
2 Bedrooms | 9 | 8 | -11.1% |
3 Bedrooms | 27 | 26 | -3.7% |
4 Bedrooms | 4 | 4 | 0.0% |
5+ Bedrooms | 0 | 2 | +100.0% |
Summary: The Central Raleigh housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.5%, 2 bedroom homes decreased by 11.1%, 3 bedroom homes decreased by 3.7%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
9 | 6 | -33.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Central Raleigh in April 2024, down by 33.3% month-over-month. Of the 6 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Central Raleigh, NC
How long does it take to sell a home in Central Raleigh, NC?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
131 Days | 53 Days | -59.0% |
Summary: Homes in Central Raleigh had an average of 53 days on market in Apr 2024, down by 59% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 6 homes were sold in Central Raleigh; 50% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.