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 January 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

$420,065

$226/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

+$1,344(+0.3%)

Key Takeaway

The sold price of homes in Raleigh has remained the same since last year.

Summary: The median home sold price in Raleigh was $420,065 in January 2024, up 0.3% from last year, and the median price per square foot was $226.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 $271.7K$269.1K
-1.0%
2 $311.2K$301.2K
-3.2%
3 $389.9K$384.9K
-1.3%
4 $580.4K$600K
+3.4%
5+ $821.9K$848.7K
+3.3%

Summary: Raleigh housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1%, 2 bedroom homes decreased by 3.2%, 3 bedroom homes decreased by 1.3%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 3.3%.

Median Sold Price Compared To Nearby Cities

House Creek Township
+1.7%
Raleigh Township
0.4%
Raleigh
0.3%
Meredith Township
0.0%
Neuse Township
-4.3%

Housing Supply in Raleigh, NC

How many homes are available in Raleigh, NC?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
1,6001,659+3.7%

Summary: The Raleigh real estate market had 1,659 homes for sale in January 2024, a 3.7% increase compared to December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 2130
+42.9%
2 221240
+8.6%
3 724723
-0.1%
4 448465
+3.8%
5+ 186201
+8.1%

Summary: The Raleigh housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 42.9%, 2 bedroom homes increased by 8.6%, 3 bedroom homes decreased by 0.1%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes increased by 8.1%.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
378304-19.6%

Asking Price vs. Sold Price

190 Homes Were Sold
Under Asking

65 Homes Were Sold
At Asking

49 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. 62.5% of homes here sold below asking price last month.

Summary: A total of 304 homes were sold or pending in Raleigh in January 2024, down by 19.6% month-over-month. Of the 304 sold homes, 63% were sold under asking, 21% 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

Jan 2023Jan 2024CHANGE
97 Days86 Days-11.3%

Summary: Homes in Raleigh had an average of 86 days on market in Jan 2024, down by 11.3% compared to last year.

Breakdown of Home Sale Times

24 Homes Were Sold
Under 30 Days

182 Homes Were Sold
In 30 - 90 Days

98 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Raleigh has remained consistent over time.

Summary: During January 2024, 304 homes were sold in Raleigh; 8% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 32% 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 26 Days Ago

Newest Listings in Raleigh, NC

Nearby Markets to Raleigh, NC

What housing markets are near Raleigh, NC?