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 December 2021

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.

How much do homes in Raleigh, NC cost?

Median Sold Price

$400,562

$227/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2021

+$60,060(+17.6%)

Key Takeaway

Homes in Raleigh have sold for 17.6% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSDec 2021Dec 2022%
1 $261K$300K
+14.9%
2 $247.4K$310K
+25.3%
3 $325.5K$380.8K
+17.0%
4 $442.6K$575.2K
+29.9%
5+ $785K$875K
+11.5%

Median Sold Price Compared To Nearby Cities

Meredith Township
+40.2%
Neuse Township
+24.1%
Raleigh
+17.6%
Raleigh Township
+16.1%
House Creek Township
+12.4%

How many homes are available in Raleigh, NC?

Number of Homes For Sale

Nov 2022Dec 2022%
1,4871,278-14.1%

Homes For Sale By Bedroom Count

# BEDSNov 2022Dec 2022%
1 4441
-6.8%
2 220201
-8.6%
3 689569
-17.4%
4 396341
-13.9%
5+ 138126
-8.7%

Number of Homes Sold

Nov 2022Dec 2022%
369365-1.1%

Asking Price vs. Sold Price

211 Homes Were Sold
Under Asking

80 Homes Were Sold
At Asking

64 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. 59.4% of homes here sold below asking price last month.

Average Sale Time

Dec 2021Dec 2022%
9 Days27 Days+186.9%

Breakdown of Home Sale Times

246 Homes Were Sold
Under 30 Days

94 Homes Were Sold
In 30 - 90 Days

25 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.

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

About Raleigh, NC

Raleigh, NC has 1,278 homes for sale to choose from. Between November 2022 and December 2022, Raleigh, NC real estate market has seen decrease in the number of listings by 14.1%. In December 2022, listings were on the market for 27 days. During the same period, the median list price in this real estate market was $400,562. This housing market listing prices have changed between November 2022 and December 2022: prices of 1 bedroom properties went up by 14.9%, prices of 2 bedrooms properties increased by 25.3%, prices of 3 bedrooms properties increased by 17%, the cost of 4 bedrooms properties went up by 29.9%, 5 bedrooms properties became 11.5% more expensive. This housing market inventory have changed: number of 1 bedroom homes decreased by 6.8%, number of 2 bedrooms homes decreased by 8.6%, volume of 3 bedrooms homes went down by 17.4%, the quantity of 4 bedrooms homes went down by 13.9%, the quantity of 5 bedrooms homes went down by 8.7%. Raleigh, NC housing market in December 2022 saw over 64 listings sold above listed price, more than 80 sold at listed price and over 211 sold below.

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