$10,000 Closing Credit*
$885,000
3,900 SqFt
5 Beds
•2 Full Baths, 1 Partial
Randy White, Listing Office: RE/MAX SOUTHLAND REALTY II
Is Raleigh, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$442,333
$233/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$23,466(+5.6%)
Key Takeaway
Homes in Raleigh have sold for 5.6% more than they did a year ago.
Summary: The median home sold price in Raleigh was $442,333 in October 2024, up 5.6% from last year, and the median price per square foot was $233.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $249.9K | $281K | +12.4% |
| 2 Bedrooms | $300K | $306.1K | +2.0% |
| 3 Bedrooms | $382.7K | $399.9K | +4.5% |
| 4 Bedrooms | $583.2K | $621.9K | +6.6% |
| 5+ Bedrooms | $809.9K | $931K | +15.0% |
Summary: Raleigh housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.4%, 2 bedroom homes increased by 2%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes increased by 15%.
Median Sold Price Compared To Nearby Cities
| Neuse Township | $379.7K | $415K | +9.3% |
| Raleigh | $418.8K | $442.3K | +5.6% |
| Raleigh Township | $418.8K | $442.2K | +5.6% |
| House Creek Township | $430K | $433.6K | +0.8% |
| Meredith Township | $585.5K | $576.5K | -1.5% |
Housing Supply in Raleigh, NC
How many homes are available in Raleigh, NC?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2,263 | 2,315 | +2.3% |
Summary: The Raleigh real estate market had 2,315 homes for sale in October 2024, a 2.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 38 | 36 | -5.3% |
| 2 Bedrooms | 316 | 333 | +5.4% |
| 3 Bedrooms | 1,003 | 1,037 | +3.4% |
| 4 Bedrooms | 629 | 635 | +1.0% |
| 5+ Bedrooms | 277 | 274 | -1.1% |
Summary: The Raleigh housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 5.3%, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 1%, and 5+ bedroom homes decreased by 1.1%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 463 | 467 | +0.9% |
Asking Price vs. Sold Price
270 Homes Were Sold
Under Asking
103 Homes Were Sold
At Asking
94 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Raleigh, you may be able to get a good deal. 57.8% of homes here sold below asking price last month.
Summary: A total of 467 homes were sold or pending in Raleigh in October 2024, up by 0.9% month-over-month. Of the 467 sold homes, 58% were sold under asking, 22% were sold at asking, and 20% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 59 Days | 36 Days | -39.5% |
Summary: Homes in Raleigh had an average of 36 days on market in Oct 2024, down by 39.5% compared to last year.
Breakdown of Home Sale Times
294 Homes Were Sold
Under 30 Days
121 Homes Were Sold
In 30 - 90 Days
52 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Raleigh are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 467 homes were sold in Raleigh; 63% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
Copyright © 2024 Doorify MLS of North Carolina. All rights reserved. Listings marked with a Doorify MLS icon are provided courtesy of the Doorify MLS, of North Carolina, Internet Data Exchange Database. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. The listing broker shall not be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers’ personal, non-commercial use. 
Copyright 2024 North Carolina Regional MLS LLC. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of North Carolina Regional MLS LLC (NCRMLS). All information is deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor this firm shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. NCRMLS will not be liable for any damage or loss resulting from use of the provided content or the products available through Portals, IDX, VOW, and/or Syndication. Recipients of this information shall not resell, redistribute, reproduce, modify, or otherwise copy any portion thereof without the expressed written consent of NCRMLS.
Listings courtesy of Canopy MLS as distributed by MLS GRID.
The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the “DMCA”) provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices must be sent in writing by email to DMCAnotice@MLSGrid.com. 
The data relating to real estate for sale on this web site comes in part from the Longleaf Pine REALTORS®, Inc. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawl. Neither listing broker(s) nor Longleaf Pine REALTORS®, Inc. shall be held responsible for typographical errors, misinformation, misprints and shall be held totally harmless. Copyright 2024 Longleaf Pine REALTORS®, Inc. All rights reserved.