Is Northeast 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, Northeast Raleigh has remained a Seller's Market.
Key Takeaway
Northeast Raleigh is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Northeast Raleigh, NC
How much do homes in Northeast Raleigh, NC cost?
Median Sold Price
$360,750
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Northeast Raleigh have sold for 1.4% less than they did a year ago.
Summary: The median home sold price in Northeast Raleigh was $360,750 in April 2024, down 1.4% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $164.5K | $183.4K | +11.5% |
| 2 Bedrooms | $270K | $265.7K | -1.6% |
| 3 Bedrooms | $350K | $350K | 0.0% |
| 4 Bedrooms | $408.7K | $425K | +4.0% |
| 5+ Bedrooms | $467.7K | $459.2K | -1.8% |
Summary: Northeast Raleigh housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.5%, 2 bedroom homes decreased by 1.6%, 3 bedroom homes did not change, 4 bedroom homes increased by 4%, and 5+ bedroom homes decreased by 1.8%.
Housing Supply in Northeast Raleigh, NC
How many homes are available in Northeast Raleigh, NC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 154 | 154 | 0.0% |
Summary: The Northeast Raleigh real estate market had 154 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 22 | 18 | -18.2% |
| 3 Bedrooms | 97 | 100 | +3.1% |
| 4 Bedrooms | 26 | 28 | +7.7% |
| 5+ Bedrooms | 9 | 7 | -22.2% |
Summary: The Northeast Raleigh housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 18.2%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes decreased by 22.2%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 52 | 45 | -13.5% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
16 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Northeast Raleigh, you may be able to get a good deal. 37.8% of homes here sold below asking price last month.
Summary: A total of 45 homes were sold or pending in Northeast Raleigh in April 2024, down by 13.5% month-over-month. Of the 45 sold homes, 38% were sold under asking, 36% were sold at asking, and 27% were sold over asking.
Days on Market for Northeast Raleigh, NC
How long does it take to sell a home in Northeast Raleigh, NC?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 75 Days | 19 Days | -73.8% |
Summary: Homes in Northeast Raleigh had an average of 19 days on market in Apr 2024, down by 73.8% compared to last year.
Breakdown of Home Sale Times
35 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Northeast Raleigh are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 45 homes were sold in Northeast Raleigh; 78% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
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