Is Midtown 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, Midtown Raleigh has remained a Seller's Market.
Housing Prices in Midtown Raleigh, NC
How much do homes in Midtown Raleigh, NC cost?
Median Sold Price
$740,000
$318/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Midtown Raleigh was $740,000 in April 2024, up 9.6% from last year, and the median price per square foot was $318.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $288K | N/A |
2 Bedrooms | $311K | $342.2K | +10.0% |
3 Bedrooms | $575K | $580K | +0.9% |
4 Bedrooms | $747.5K | $755K | +1.0% |
5+ Bedrooms | $1.6M | $1.4M | -9.3% |
Summary: Midtown Raleigh housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 0.9%, 4 bedroom homes increased by 1%, and 5+ bedroom homes decreased by 9.3%.
Housing Supply in Midtown Raleigh, NC
How many homes are available in Midtown Raleigh, NC?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
99 | 95 | -4.0% |
Summary: The Midtown Raleigh real estate market had 95 homes for sale in April 2024, a 4.0% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 3 | 5 | +66.7% |
3 Bedrooms | 22 | 23 | +4.5% |
4 Bedrooms | 36 | 31 | -13.9% |
5+ Bedrooms | 38 | 36 | -5.3% |
Summary: The Midtown Raleigh housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 66.7%, 3 bedroom homes increased by 4.5%, 4 bedroom homes decreased by 13.9%, and 5+ bedroom homes decreased by 5.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
24 | 23 | -4.2% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in Midtown Raleigh in April 2024, down by 4.2% month-over-month. Of the 23 sold homes, 43% were sold under asking, 30% were sold at asking, and 26% were sold over asking.
Days on Market for Midtown Raleigh, NC
How long does it take to sell a home in Midtown Raleigh, NC?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
52 Days | 31 Days | -39.7% |
Summary: Homes in Midtown Raleigh had an average of 31 days on market in Apr 2024, down by 39.7% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 23 homes were sold in Midtown Raleigh; 78% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.