$6,294 Closing Credit*
$530,000
1,458 SqFt
3 Beds
•2 Full Baths, 1 Partial
Renee R Chisholm, Listing Office: Preferred Choice Realty Group
Is Southwest 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, Southwest Raleigh has remained a Seller's Market.
Key Takeaway
Southwest Raleigh is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Southwest Raleigh, NC
How much do homes in Southwest Raleigh, NC cost?
Median Sold Price
$370,000
$236/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$31,000(+9.1%)
Key Takeaway
Homes in Southwest Raleigh have sold for 9.1% more than they did a year ago.
Summary: The median home sold price in Southwest Raleigh was $370,000 in October 2024, up 9.1% from last year, and the median price per square foot was $236.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $289.9K | $362.5K | +25.0% |
| 2 Bedrooms | $275K | $314K | +14.2% |
| 3 Bedrooms | $356.1K | $368K | +3.3% |
| 4 Bedrooms | $416.7K | $468.8K | +12.5% |
| 5+ Bedrooms | $649.7K | $675K | +3.9% |
Summary: Southwest Raleigh housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 14.2%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 12.5%, 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
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 70 | 75 | +7.1% |
Summary: The Southwest Raleigh real estate market had 75 homes for sale in October 2024, a 7.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 18 | 21 | +16.7% |
| 3 Bedrooms | 39 | 42 | +7.7% |
| 4 Bedrooms | 7 | 8 | +14.3% |
| 5+ Bedrooms | 4 | 1 | -75.0% |
Summary: The Southwest Raleigh housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes decreased by 75%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 14 | -6.7% |
Asking Price vs. Sold Price
9 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 Southwest Raleigh, you may be able to get a good deal. 64.3% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in Southwest Raleigh in October 2024, down by 6.7% month-over-month. Of the 14 sold homes, 64% were sold under asking, 21% were sold at asking, and 14% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 54 Days | 31 Days | -42.9% |
Summary: Homes in Southwest Raleigh had an average of 31 days on market in Oct 2024, down by 42.9% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
4 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 October 2024, 14 homes were sold in Southwest Raleigh; 64% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
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