$4,204 Closing Credit*
$354,000
1,417 SqFt
2 Beds
•2 Full Baths, 1 Partial
Stacey Horowitz, Jillian Horowitz, Listing Office: Fonville Morisey/Stonehenge Sa
Is Northwest Raleigh, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, Northwest Raleigh has remained a Seller's Market.
Key Takeaway
Northwest Raleigh is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Northwest Raleigh, NC
How much do homes in Northwest Raleigh, NC cost?
Median Sold Price
$474,913
$242/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$20,775(+4.6%)
Key Takeaway
Homes in Northwest Raleigh have sold for 4.6% more than they did a year ago.
Summary: The median home sold price in Northwest Raleigh was $474,913 in December 2024, up 4.6% from last year, and the median price per square foot was $242.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $227.5K | $233K | +2.4% |
| 2 Bedrooms | $320K | $325K | +1.6% |
| 3 Bedrooms | $439.9K | $450.2K | +2.3% |
| 4 Bedrooms | $614K | $610.2K | -0.6% |
| 5+ Bedrooms | $926K | $930K | 0.4% |
Summary: Northwest Raleigh housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.4%, 2 bedroom homes increased by 1.6%, 3 bedroom homes increased by 2.3%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes increased by 0.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Northwest Raleigh | $454.1K | $474.9K | +4.6% |
| Long Lake | $547.5K | $422.5K | -22.8% |
Housing Supply in Northwest Raleigh, NC
How many homes are available in Northwest Raleigh, NC?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 307 | 263 | -14.3% |
Summary: The Northwest Raleigh real estate market had 263 homes for sale in December 2024, a 14.3% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 5 | 0.0% |
| 2 Bedrooms | 49 | 46 | -6.1% |
| 3 Bedrooms | 137 | 115 | -16.1% |
| 4 Bedrooms | 78 | 65 | -16.7% |
| 5+ Bedrooms | 38 | 32 | -15.8% |
Summary: The Northwest Raleigh housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 6.1%, 3 bedroom homes decreased by 16.1%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes decreased by 15.8%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 68 | 77 | +13.2% |
Asking Price vs. Sold Price
48 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Northwest Raleigh, you may be able to get a good deal. 62.3% of homes here sold below asking price last month.
Summary: A total of 77 homes were sold or pending in Northwest Raleigh in December 2024, up by 13.2% month-over-month. Of the 77 sold homes, 62% were sold under asking, 23% were sold at asking, and 14% were sold over asking.
Days on Market for Northwest Raleigh, NC
How long does it take to sell a home in Northwest Raleigh, NC?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 72 Days | 34 Days | -52.8% |
Summary: Homes in Northwest Raleigh had an average of 34 days on market in Dec 2024, down by 52.8% compared to last year.
Breakdown of Home Sale Times
45 Homes Were Sold
Under 30 Days
25 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Northwest Raleigh are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 77 homes were sold in Northwest Raleigh; 58% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
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