$5,106 Closing Credit*
$430,000
1,630 SqFt
4 Beds
•2 Full Baths, 1 Partial
Debby Smith, Listing Office: Coldwell Banker Advantage
Is Southwest 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, Southwest Raleigh was a Seller's Market.
Key Takeaway
Southwest 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 Southwest Raleigh, NC
How much do homes in Southwest Raleigh, NC cost?
Median Sold Price
$374,900
$236/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$36,900(+10.9%)
Key Takeaway
Homes in Southwest Raleigh have sold for 10.9% more than they did a year ago.
Summary: The median home sold price in Southwest Raleigh was $374,900 in November 2024, up 10.9% from last year, and the median price per square foot was $236.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $289.9K | $362.5K | +25.0% |
| 2 Bedrooms | $274.7K | $312.5K | +13.7% |
| 3 Bedrooms | $352K | $370K | +5.1% |
| 4 Bedrooms | $423.9K | $513.7K | +21.2% |
| 5+ Bedrooms | $649.7K | $675K | +3.9% |
Summary: Southwest Raleigh housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 13.7%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 21.2%, and 5+ bedroom homes increased by 3.9%.
Housing Supply in Southwest Raleigh, NC
How many homes are available in Southwest Raleigh, NC?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 72 | 62 | -13.9% |
Summary: The Southwest Raleigh real estate market had 62 homes for sale in November 2024, a 13.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 21 | 18 | -14.3% |
| 3 Bedrooms | 39 | 35 | -10.3% |
| 4 Bedrooms | 8 | 6 | -25.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Southwest Raleigh housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes decreased by 10.3%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 14 | 10 | -28.6% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southwest Raleigh, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Southwest Raleigh in November 2024, down by 28.6% month-over-month. Of the 10 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% were sold over asking.
Days on Market for Southwest Raleigh, NC
How long does it take to sell a home in Southwest Raleigh, NC?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 64 Days | 26 Days | -58.6% |
Summary: Homes in Southwest Raleigh had an average of 26 days on market in Nov 2024, down by 58.6% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Southwest Raleigh are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 10 homes were sold in Southwest Raleigh; 70% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
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