Is South 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, South Raleigh has remained a Seller's Market.
Housing Prices in South Raleigh, NC
How much do homes in South Raleigh, NC cost?
Median Sold Price
$311,000
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in South Raleigh was $311,000 in April 2024, down 4.3% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $208.5K | $247.5K | +18.7% |
3 Bedrooms | $317.5K | $305K | -3.9% |
4 Bedrooms | $350K | $340.9K | -2.6% |
5+ Bedrooms | $384.5K | $389K | +1.2% |
Summary: South Raleigh housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 18.7%, 3 bedroom homes decreased by 3.9%, 4 bedroom homes decreased by 2.6%, and 5+ bedroom homes increased by 1.2%.
Median Sold Price Compared To Nearby Neighborhoods
Providence | $362K | $368.5K | +1.8% |
South Raleigh | $325K | $311K | -4.3% |
Housing Supply in South Raleigh, NC
How many homes are available in South Raleigh, NC?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
59 | 58 | -1.7% |
Summary: The South Raleigh real estate market had 58 homes for sale in April 2024, a 1.7% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 6 | 4 | -33.3% |
3 Bedrooms | 32 | 31 | -3.1% |
4 Bedrooms | 16 | 17 | +6.3% |
5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The South Raleigh housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 3.1%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
18 | 19 | +5.6% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 19 homes were sold or pending in South Raleigh in April 2024, up by 5.6% month-over-month. Of the 19 sold homes, 42% were sold under asking, 26% were sold at asking, and 32% were sold over asking.
Days on Market for South Raleigh, NC
How long does it take to sell a home in South Raleigh, NC?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
58 Days | 21 Days | -63.1% |
Summary: Homes in South Raleigh had an average of 21 days on market in Apr 2024, down by 63.1% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 19 homes were sold in South Raleigh; 79% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.