$2,280 Closing Credit*
$192,000
951 SqFt
2 Beds
•2 Full Baths, 1 Partial
Reggie Augustin, Listing Office: TradeMark Residential
Is South 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 Raleigh was a Seller's Market.
Key Takeaway
South Raleigh is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in South Raleigh, NC
How much do homes in South Raleigh, NC cost?
Median Sold Price
$308,500
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$3,500(-1.1%)
Key Takeaway
Homes in South Raleigh have sold for 1.1% less than they did a year ago.
Summary: The median home sold price in South Raleigh was $308,500 in November 2024, down 1.1% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $205K | $245K | +19.5% |
| 3 Bedrooms | $308.4K | $300K | -2.7% |
| 4 Bedrooms | $337K | $342.5K | +1.6% |
| 5+ Bedrooms | $372K | $380K | +2.2% |
Summary: South Raleigh housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 19.5%, 3 bedroom homes decreased by 2.7%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes increased by 2.2%.
Housing Supply in South Raleigh, NC
How many homes are available in South Raleigh, NC?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 62 | 65 | +4.8% |
Summary: The South Raleigh real estate market had 65 homes for sale in November 2024, a 4.8% increase 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 46 | 48 | +4.3% |
| 4 Bedrooms | 12 | 13 | +8.3% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The South 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 remained the same, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 13 | 10 | -23.1% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Raleigh, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in South Raleigh in November 2024, down by 23.1% month-over-month. Of the 10 sold homes, 50% were sold under asking, 30% were sold at asking, and 20% were sold over asking.
Days on Market for South Raleigh, NC
How long does it take to sell a home in South Raleigh, NC?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 83 Days | 33 Days | -60.3% |
Summary: Homes in South Raleigh had an average of 33 days on market in Nov 2024, down by 60.3% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in South Raleigh has remained consistent over time.
Summary: During November 2024, 10 homes were sold in South Raleigh; 40% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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