$7,772 Closing Credit*
$654,500
2,021 SqFt
3 Beds
•2 Full Baths
Bobby Bryant, Listing Office: Coldwell Banker Advantage-Smit
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 November 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
$517,500
$350/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$68,000(+15.1%)
Key Takeaway
Homes in South Central Raleigh have sold for 15.1% more than they did a year ago.
Summary: The median home sold price in South Central Raleigh was $517,500 in November 2024, up 15.1% from last year, and the median price per square foot was $350.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $268.4K | $230K | -14.3% |
| 2 Bedrooms | $298K | $267K | -10.4% |
| 3 Bedrooms | $486K | $547.5K | +12.6% |
| 4 Bedrooms | $565K | $699K | +23.7% |
| 5+ Bedrooms | $410K | $656.2K | +60.1% |
Summary: South Central Raleigh housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.3%, 2 bedroom homes decreased by 10.4%, 3 bedroom homes increased by 12.6%, 4 bedroom homes increased by 23.7%, and 5+ bedroom homes increased by 60.1%.
Housing Supply in South Central Raleigh, NC
How many homes are available in South Central Raleigh, NC?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 43 | 40 | -7.0% |
Summary: The South Central Raleigh real estate market had 40 homes for sale in November 2024, a 7.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 3 | -57.1% |
| 3 Bedrooms | 23 | 24 | +4.3% |
| 4 Bedrooms | 10 | 10 | 0.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The South Central Raleigh housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 57.1%, 3 bedroom homes increased by 4.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 4 | 2 | -50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Central Raleigh, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in South Central Raleigh in November 2024, down by 50.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 45 Days | 52 Days | +15.0% |
Summary: Homes in South Central Raleigh had an average of 52 days on market in Nov 2024, up by 15% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Central Raleigh are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 2 homes were sold in South Central Raleigh; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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