$10,000 Closing Credit*
$1,575,000
3,590 SqFt
4 Beds
•3 Full Baths, 1 Partial
Linda G Craft, Dwayne Reece, Listing Office: Linda Craft Team, REALTORS
Is Midtown Raleigh, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Midtown Raleigh was a Seller's Market.
Key Takeaway
Midtown 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 Midtown Raleigh, NC
How much do homes in Midtown Raleigh, NC cost?
Median Sold Price
$750,000
$329/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$25,000(+3.4%)
Key Takeaway
Homes in Midtown Raleigh have sold for 3.4% more than they did a year ago.
Summary: The median home sold price in Midtown Raleigh was $750,000 in October 2024, up 3.4% from last year, and the median price per square foot was $329.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $288K | N/A |
| 2 Bedrooms | $351K | $322.7K | -8.0% |
| 3 Bedrooms | $555K | $585.8K | +5.6% |
| 4 Bedrooms | $780K | $750K | -3.8% |
| 5+ Bedrooms | $1.7M | $1.7M | +2.2% |
Summary: Midtown Raleigh housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 8%, 3 bedroom homes increased by 5.6%, 4 bedroom homes decreased by 3.8%, and 5+ bedroom homes increased by 2.2%.
Housing Supply in Midtown Raleigh, NC
How many homes are available in Midtown Raleigh, NC?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 87 | 91 | +4.6% |
Summary: The Midtown Raleigh real estate market had 91 homes for sale in October 2024, a 4.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 5 | +150.0% |
| 3 Bedrooms | 24 | 23 | -4.2% |
| 4 Bedrooms | 33 | 33 | 0.0% |
| 5+ Bedrooms | 28 | 30 | +7.1% |
Summary: The Midtown Raleigh housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 150%, 3 bedroom homes decreased by 4.2%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 7.1%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 15 | +25.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Midtown 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 15 homes were sold or pending in Midtown Raleigh in October 2024, up by 25.0% month-over-month. Of the 15 sold homes, 53% were sold under asking, 27% were sold at asking, and 20% were sold over asking.
Days on Market for Midtown Raleigh, NC
How long does it take to sell a home in Midtown Raleigh, NC?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 63 Days | 64 Days | +1.7% |
Summary: Homes in Midtown Raleigh had an average of 64 days on market in Oct 2024, up by 1.7% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Midtown Raleigh are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 15 homes were sold in Midtown Raleigh; 40% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.
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