Is Raleigh, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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
$434,982
$231/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Raleigh have sold for 5.5% more than they did a year ago.
Summary: The median home sold price in Raleigh was $434,982 in June 2024, up 5.5% from last year, and the median price per square foot was $231.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $269.2K | $249.9K | -7.2% |
| 2 Bedrooms | $300.8K | $307.5K | +2.2% |
| 3 Bedrooms | $380K | $395K | +3.9% |
| 4 Bedrooms | $584.7K | $613.2K | +4.9% |
| 5+ Bedrooms | $809.1K | $888.5K | +9.8% |
Summary: Raleigh housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.2%, 2 bedroom homes increased by 2.2%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes increased by 9.8%.
Median Sold Price Compared To Nearby Cities
| Meredith Township | $560K | $602.5K | +7.6% |
| Raleigh | $412.4K | $434.9K | +5.5% |
| Raleigh Township | $412.2K | $435K | +5.5% |
| Neuse Township | $381.9K | $401.2K | +5.1% |
| House Creek Township | $417.3K | $433.1K | +3.8% |
Housing Supply in Raleigh, NC
How many homes are available in Raleigh, NC?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 2,383 | 2,303 | -3.4% |
Summary: The Raleigh real estate market had 2,303 homes for sale in June 2024, a 3.4% decrease compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 35 | 33 | -5.7% |
| 2 Bedrooms | 313 | 288 | -8.0% |
| 3 Bedrooms | 1,101 | 1,055 | -4.2% |
| 4 Bedrooms | 660 | 638 | -3.3% |
| 5+ Bedrooms | 274 | 289 | +5.5% |
Summary: The Raleigh housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 5.7%, 2 bedroom homes decreased by 8%, 3 bedroom homes decreased by 4.2%, 4 bedroom homes decreased by 3.3%, and 5+ bedroom homes increased by 5.5%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 632 | 591 | -6.5% |
Asking Price vs. Sold Price
265 Homes Were Sold
Under Asking
162 Homes Were Sold
At Asking
164 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Raleigh, you may be able to get a good deal. 44.8% of homes here sold below asking price last month.
Summary: A total of 591 homes were sold or pending in Raleigh in June 2024, down by 6.5% month-over-month. Of the 591 sold homes, 45% were sold under asking, 27% were sold at asking, and 28% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 85 Days | 25 Days | -69.6% |
Summary: Homes in Raleigh had an average of 25 days on market in Jun 2024, down by 69.6% compared to last year.
Breakdown of Home Sale Times
441 Homes Were Sold
Under 30 Days
121 Homes Were Sold
In 30 - 90 Days
29 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Raleigh are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 591 homes were sold in Raleigh; 75% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
Copyright © 2024 Triangle MLS, Inc. of North Carolina. All rights reserved. 
Copyright 2024 North Carolina Regional MLS LLC. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of North Carolina Regional MLS LLC (NCRMLS). All information is deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor this firm shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. NCRMLS will not be liable for any damage or loss resulting from use of the provided content or the products available through Portals, IDX, VOW, and/or Syndication. Recipients of this information shall not resell, redistribute, reproduce, modify, or otherwise copy any portion thereof without the expressed written consent of NCRMLS.
Listings courtesy of Canopy MLS as distributed by MLS GRID.
The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the “DMCA”) provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices must be sent in writing by email to DMCAnotice@MLSGrid.com. 
Copyright © 2024 Triad Multiple Listing Service, Inc. All rights reserved. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. This site will be monitored for ‘scraping’ and any use of search facilities of data on the site other than by potential buyers/sellers is prohibited. All Sale data is for informational purposes only and is not an indication of a market analysis or appraisal. Properties marked with the Triad MLS, Inc. icon are provided courtesy of the Triad MLS, Inc.’s, Internet Data Exchange Database.