$7,648 Closing Credit*
$644,000
1,610 SqFt
3 Beds
•1 Full Bath, 1 Partial
Nanette Newton, Listing Office: ERA Live Moore
Is Midtown 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, Midtown Raleigh has remained a Seller's Market.
Key Takeaway
Midtown Raleigh is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Midtown Raleigh, NC
How much do homes in Midtown Raleigh, NC cost?
Median Sold Price
$745,000
$331/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$3,000(+0.4%)
Key Takeaway
The sold price of homes in Midtown Raleigh has remained the same since last year.
Summary: The median home sold price in Midtown Raleigh was $745,000 in November 2024, up 0.4% from last year, and the median price per square foot was $331.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $288K | N/A |
| 2 Bedrooms | $359.7K | $318K | -11.6% |
| 3 Bedrooms | $575K | $594K | +3.3% |
| 4 Bedrooms | $790K | $730K | -7.6% |
| 5+ Bedrooms | $1.7M | $1.7M | -2.6% |
Summary: Midtown Raleigh housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 11.6%, 3 bedroom homes increased by 3.3%, 4 bedroom homes decreased by 7.6%, and 5+ bedroom homes decreased by 2.6%.
Housing Supply in Midtown Raleigh, NC
How many homes are available in Midtown Raleigh, NC?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 94 | 92 | -2.1% |
Summary: The Midtown Raleigh real estate market had 92 homes for sale in November 2024, a 2.1% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 25 | 20 | -20.0% |
| 4 Bedrooms | 32 | 27 | -15.6% |
| 5+ Bedrooms | 33 | 39 | +18.2% |
Summary: The Midtown Raleigh housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 20%, 4 bedroom homes decreased by 15.6%, and 5+ bedroom homes increased by 18.2%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 17 | 21 | +23.5% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
6 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. 42.9% of homes here sold below asking price last month.
Summary: A total of 21 homes were sold or pending in Midtown Raleigh in November 2024, up by 23.5% month-over-month. Of the 21 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 98 Days | 42 Days | -56.7% |
Summary: Homes in Midtown Raleigh had an average of 42 days on market in Nov 2024, down by 56.7% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 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 November 2024, 21 homes were sold in Midtown Raleigh; 62% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
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