Is Raleigh, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Raleigh is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Raleigh has remained a Seller's Market.

Key Takeaway

Raleigh is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Raleigh, NC

How much do homes in Raleigh, NC cost?

Median Sold Price

$448,424

$234/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$32,164(+7.7%)

Key Takeaway

Homes in Raleigh have sold for 7.7% more than they did a year ago.

Summary: The median home sold price in Raleigh was $448,424 in November 2024, up 7.7% from last year, and the median price per square foot was $234.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $253K$281K
+11.1%
2 $299.9K$310K
+3.3%
3 $380.3K$400.5K
+5.3%
4 $584.3K$628.7K
+7.6%
5+ $816.9K$930K
+13.8%

Summary: Raleigh housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 3.3%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes increased by 13.8%.

Median Sold Price Compared To Nearby Cities

Neuse Township
+11.3%
Raleigh Township
+7.9%
Raleigh
+7.7%
House Creek Township
+1.8%
Meredith Township
0.2%

Housing Supply in Raleigh, NC

How many homes are available in Raleigh, NC?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
2,3002,077-9.7%

Summary: The Raleigh real estate market had 2,077 homes for sale in November 2024, a 9.7% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 3338
+15.2%
2 319299
-6.3%
3 1,034938
-9.3%
4 641545
-15.0%
5+ 273257
-5.9%

Summary: The Raleigh housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 15.2%, 2 bedroom homes decreased by 6.3%, 3 bedroom homes decreased by 9.3%, 4 bedroom homes decreased by 15%, and 5+ bedroom homes decreased by 5.9%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
493425-13.8%

Asking Price vs. Sold Price

257 Homes Were Sold
Under Asking

101 Homes Were Sold
At Asking

67 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Raleigh, you may be able to get a good deal. 60.5% of homes here sold below asking price last month.

Summary: A total of 425 homes were sold or pending in Raleigh in November 2024, down by 13.8% month-over-month. Of the 425 sold homes, 60% were sold under asking, 24% were sold at asking, and 16% were sold over asking.

Days on Market for Raleigh, NC

How long does it take to sell a home in Raleigh, NC?

Average Sale Time

Nov 2023Nov 2024CHANGE
68 Days42 Days-37.0%

Summary: Homes in Raleigh had an average of 42 days on market in Nov 2024, down by 37% compared to last year.

Breakdown of Home Sale Times

242 Homes Were Sold
Under 30 Days

128 Homes Were Sold
In 30 - 90 Days

55 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Raleigh are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 425 homes were sold in Raleigh; 57% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 17 Days Ago

Newest Listings in Raleigh, NC

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