Is Raleigh, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 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, TN
How much do homes in Raleigh, TN cost?
Median Sold Price
$155,675
-
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Raleigh have sold for 5.2% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $80.5K | $118K | +46.6% |
| 3 Bedrooms | $134K | $136.3K | +1.8% |
| 4 Bedrooms | $189.9K | $196.4K | +3.4% |
| 5+ Bedrooms | $212.5K | $230.9K | +8.7% |
Summary: Raleigh housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 46.6%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 8.7%.
Housing Supply in Raleigh, TN
How many homes are available in Raleigh, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 160 | 157 | -1.9% |
Summary: The Raleigh real estate market had 157 homes for sale in May 2024, a 1.9% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 121 | 119 | -1.7% |
| 4 Bedrooms | 34 | 33 | -2.9% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Raleigh housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 1.7%, 4 bedroom homes decreased by 2.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 39 | 45 | +15.4% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Raleigh, you may be able to get a good deal. 53.3% of homes here sold below asking price last month.
Summary: A total of 45 homes were sold or pending in Raleigh in May 2024, up by 15.4% month-over-month. Of the 45 sold homes, 53% were sold under asking, 20% were sold at asking, and 27% were sold over asking.
Days on Market for Raleigh, TN
We’re sorry, we don't have information for this market at the moment
