$750,000
3.01 Acres
Land
Jim Allen, Listing Office: Coldwell Banker HPW
Is North 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, North Raleigh has remained a Seller's Market.
Key Takeaway
North Raleigh is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in North Raleigh, NC
How much do homes in North Raleigh, NC cost?
Median Sold Price
$465,266
$234/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$33,106(+7.7%)
Key Takeaway
Homes in North Raleigh have sold for 7.7% more than they did a year ago.
Summary: The median home sold price in North Raleigh was $465,266 in November 2024, up 7.7% from last year, and the median price per square foot was $234.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $222K | $226.5K | +2.0% |
| 2 Bedrooms | $282.6K | $288K | +1.9% |
| 3 Bedrooms | $415K | $428.2K | +3.2% |
| 4 Bedrooms | $588K | $591.7K | +0.6% |
| 5+ Bedrooms | $795K | $900K | +13.2% |
Summary: North Raleigh housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2%, 2 bedroom homes increased by 1.9%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 0.6%, and 5+ bedroom homes increased by 13.2%.
Housing Supply in North Raleigh, NC
How many homes are available in North Raleigh, NC?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 332 | 286 | -13.9% |
Summary: The North Raleigh real estate market had 286 homes for sale in November 2024, a 13.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 7 | +75.0% |
| 2 Bedrooms | 53 | 45 | -15.1% |
| 3 Bedrooms | 129 | 114 | -11.6% |
| 4 Bedrooms | 98 | 77 | -21.4% |
| 5+ Bedrooms | 48 | 43 | -10.4% |
Summary: The North Raleigh housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 75%, 2 bedroom homes decreased by 15.1%, 3 bedroom homes decreased by 11.6%, 4 bedroom homes decreased by 21.4%, and 5+ bedroom homes decreased by 10.4%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 90 | 72 | -20.0% |
Asking Price vs. Sold Price
40 Homes Were Sold
Under Asking
22 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in North Raleigh, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 72 homes were sold or pending in North Raleigh in November 2024, down by 20.0% month-over-month. Of the 72 sold homes, 56% were sold under asking, 31% were sold at asking, and 14% were sold over asking.
Days on Market for North Raleigh, NC
How long does it take to sell a home in North Raleigh, NC?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 56 Days | 28 Days | -49.0% |
Summary: Homes in North Raleigh had an average of 28 days on market in Nov 2024, down by 49% compared to last year.
Breakdown of Home Sale Times
51 Homes Were Sold
Under 30 Days
18 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in North Raleigh are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 72 homes were sold in North Raleigh; 71% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
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