Is Raleigh, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Raleigh is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Raleigh has remained a Seller's Market.

Key Takeaway

Raleigh is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Raleigh, NC

How much do homes in Raleigh, NC cost?

Median Sold Price

$448,424

$234/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$32,164(+7.7%)

Key Takeaway

Homes in Raleigh have sold for 7.7% more than they did a year ago.

Summary: The median home sold price in Raleigh was $448,424 in November 2024, up 7.7% from last year, and the median price per square foot was $234.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $253K$281K
+11.1%
2 $299.9K$310K
+3.3%
3 $380.3K$400.5K
+5.3%
4 $584.3K$628.7K
+7.6%
5+ $816.9K$930K
+13.8%

Summary: Raleigh housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 3.3%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes increased by 13.8%.

Median Sold Price Compared To Nearby Cities

Neuse Township
+11.3%
Raleigh Township
+7.9%
Raleigh
+7.7%
House Creek Township
+1.8%
Meredith Township
0.2%

Housing Supply in Raleigh, NC

How many homes are available in Raleigh, NC?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
2,3002,077-9.7%

Summary: The Raleigh real estate market had 2,077 homes for sale in November 2024, a 9.7% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 3338
+15.2%
2 319299
-6.3%
3 1,034938
-9.3%
4 641545
-15.0%
5+ 273257
-5.9%

Summary: The Raleigh housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 15.2%, 2 bedroom homes decreased by 6.3%, 3 bedroom homes decreased by 9.3%, 4 bedroom homes decreased by 15%, and 5+ bedroom homes decreased by 5.9%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
493425-13.8%

Asking Price vs. Sold Price

257 Homes Were Sold
Under Asking

101 Homes Were Sold
At Asking

67 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Raleigh, you may be able to get a good deal. 60.5% of homes here sold below asking price last month.

Summary: A total of 425 homes were sold or pending in Raleigh in November 2024, down by 13.8% month-over-month. Of the 425 sold homes, 60% were sold under asking, 24% were sold at asking, and 16% were sold over asking.

Days on Market for Raleigh, NC

How long does it take to sell a home in Raleigh, NC?

Average Sale Time

Nov 2023Nov 2024CHANGE
68 Days42 Days-37.0%

Summary: Homes in Raleigh had an average of 42 days on market in Nov 2024, down by 37% compared to last year.

Breakdown of Home Sale Times

242 Homes Were Sold
Under 30 Days

128 Homes Were Sold
In 30 - 90 Days

55 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Raleigh are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 425 homes were sold in Raleigh; 57% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 7 Days Ago

Newest Listings in Raleigh, NC

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