$350,000
0.09 Acres
Land
Cecilia Zuvic, Listing Office: Monarch Realty Co.
Is South Central Raleigh, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, South Central Raleigh was a Seller's Market.
Key Takeaway
South Central Raleigh is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in South Central Raleigh, NC
How much do homes in South Central Raleigh, NC cost?
Median Sold Price
$505,000
$351/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$45,000(+9.8%)
Key Takeaway
Homes in South Central Raleigh have sold for 9.8% more than they did a year ago.
Summary: The median home sold price in South Central Raleigh was $505,000 in October 2024, up 9.8% from last year, and the median price per square foot was $351.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $268.4K | $230K | -14.3% |
| 2 Bedrooms | $306K | $274K | -10.5% |
| 3 Bedrooms | $506K | $540K | +6.7% |
| 4 Bedrooms | $580K | $699K | +20.5% |
| 5+ Bedrooms | $410K | $530K | +29.3% |
Summary: South Central Raleigh housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.3%, 2 bedroom homes decreased by 10.5%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 20.5%, and 5+ bedroom homes increased by 29.3%.
Housing Supply in South Central Raleigh, NC
How many homes are available in South Central Raleigh, NC?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 45 | 47 | +4.4% |
Summary: The South Central Raleigh real estate market had 47 homes for sale in October 2024, a 4.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 8 | -11.1% |
| 3 Bedrooms | 24 | 26 | +8.3% |
| 4 Bedrooms | 9 | 11 | +22.2% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The South Central Raleigh housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 11.1%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 2 | -60.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in South Central Raleigh, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in South Central Raleigh in October 2024, down by 60.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for South Central Raleigh, NC
How long does it take to sell a home in South Central Raleigh, NC?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 48 Days | 77 Days | +60.6% |
Summary: Homes in South Central Raleigh had an average of 77 days on market in Oct 2024, up by 60.6% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in South Central Raleigh has remained consistent over time.
Summary: During October 2024, 2 homes were sold in South Central Raleigh; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
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