$6,294 Closing Credit*
$530,000
1,340 SqFt
1 Bed
•1 Full Bath
Kelvin Dumas, Listing Office: Offer Realty
Is Central Raleigh, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Central Raleigh has remained a Neutral Market.
Key Takeaway
Central Raleigh is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Central Raleigh, NC
How much do homes in Central Raleigh, NC cost?
Median Sold Price
$475,000
$351/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$68,500(-12.6%)
Key Takeaway
Homes in Central Raleigh have sold for 12.6% less than they did a year ago.
Summary: The median home sold price in Central Raleigh was $475,000 in November 2024, down 12.6% from last year, and the median price per square foot was $351.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $396.5K | $395K | -0.4% |
| 2 Bedrooms | $510K | $482.5K | -5.4% |
| 3 Bedrooms | $670K | $433.7K | -35.3% |
| 4 Bedrooms | $1.1M | $975K | -14.8% |
| 5+ Bedrooms | - | $940K | N/A |
Summary: Central Raleigh housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.4%, 2 bedroom homes decreased by 5.4%, 3 bedroom homes decreased by 35.3%, 4 bedroom homes decreased by 14.8%, 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
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 47 | 50 | +6.4% |
Summary: The Central Raleigh real estate market had 50 homes for sale in November 2024, a 6.4% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 7 | 0.0% |
| 2 Bedrooms | 16 | 16 | 0.0% |
| 3 Bedrooms | 17 | 21 | +23.5% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Central Raleigh housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 23.5%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 6 | 8 | +33.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 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. 62.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Central Raleigh in November 2024, up by 33.3% month-over-month. Of the 8 sold homes, 63% were sold under asking, 38% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 78 Days | 128 Days | +63.2% |
Summary: Homes in Central Raleigh had an average of 128 days on market in Nov 2024, up by 63.2% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
4 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 November 2024, 8 homes were sold in Central Raleigh; 38% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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