$4,655 Closing Credit*
$392,000
1,076 SqFt
2 Beds
•2 Full Baths
Johnny Chappell, Ivan Hovis Gobern, Listing Office: Compass -- Raleigh
Is Central Raleigh, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Central Raleigh has remained a Buyer's Market.
Key Takeaway
Central Raleigh is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Central Raleigh, NC
How much do homes in Central Raleigh, NC cost?
Median Sold Price
$460,132
$352/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$65,867(-12.5%)
Key Takeaway
Homes in Central Raleigh have sold for 12.5% less than they did a year ago.
Summary: The median home sold price in Central Raleigh was $460,132 in October 2024, down 12.5% from last year, and the median price per square foot was $352.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $396.5K | $390K | -1.6% |
| 2 Bedrooms | $505K | $480K | -5.0% |
| 3 Bedrooms | $650K | $458.2K | -29.5% |
| 4 Bedrooms | $1.2M | $1.0M | -18.3% |
| 5+ Bedrooms | - | $1.2M | N/A |
Summary: Central Raleigh housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.6%, 2 bedroom homes decreased by 5%, 3 bedroom homes decreased by 29.5%, 4 bedroom homes decreased by 18.3%, and 5+ bedroom homes did not change.
Housing Supply in Central Raleigh, NC
How many homes are available in Central Raleigh, NC?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 52 | 49 | -5.8% |
Summary: The Central Raleigh real estate market had 49 homes for sale in October 2024, a 5.8% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 11 | 9 | -18.2% |
| 2 Bedrooms | 13 | 16 | +23.1% |
| 3 Bedrooms | 23 | 19 | -17.4% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Central Raleigh housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 18.2%, 2 bedroom homes increased by 23.1%, 3 bedroom homes decreased by 17.4%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 6 | -50.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Central Raleigh, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Central Raleigh in October 2024, down by 50.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Central Raleigh, NC
How long does it take to sell a home in Central Raleigh, NC?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 298 Days | 55 Days | -81.4% |
Summary: Homes in Central Raleigh had an average of 55 days on market in Oct 2024, down by 81.4% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Central Raleigh has remained consistent over time.
Summary: During October 2024, 6 homes were sold in Central Raleigh; 33% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
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