$95,000
0.51 Acres
Land
Mohamed Kayyali, Listing Office: Choice Residential Real Estate
Is West Raleigh, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, West Raleigh has remained a Seller's Market.
Key Takeaway
West Raleigh is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in West Raleigh, NC
How much do homes in West Raleigh, NC cost?
Median Sold Price
$415,333
$240/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$15,333(+3.8%)
Key Takeaway
Homes in West Raleigh have sold for 3.8% more than they did a year ago.
Summary: The median home sold price in West Raleigh was $415,333 in November 2024, up 3.8% from last year, and the median price per square foot was $240.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $147.4K | $175.1K | +18.8% |
| 2 Bedrooms | $279.5K | $276.4K | -1.1% |
| 3 Bedrooms | $420K | $419.2K | -0.2% |
| 4 Bedrooms | $600.5K | $547K | -8.9% |
| 5+ Bedrooms | $789.9K | $752.5K | -4.7% |
Summary: West Raleigh housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.8%, 2 bedroom homes decreased by 1.1%, 3 bedroom homes decreased by 0.2%, 4 bedroom homes decreased by 8.9%, and 5+ bedroom homes decreased by 4.7%.
Housing Supply in West Raleigh, NC
How many homes are available in West Raleigh, NC?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 93 | 77 | -17.2% |
Summary: The West Raleigh real estate market had 77 homes for sale in November 2024, a 17.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 23 | 17 | -26.1% |
| 3 Bedrooms | 35 | 36 | +2.9% |
| 4 Bedrooms | 28 | 19 | -32.1% |
| 5+ Bedrooms | 6 | 2 | -66.7% |
Summary: The West Raleigh housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes decreased by 26.1%, 3 bedroom homes increased by 2.9%, 4 bedroom homes decreased by 32.1%, and 5+ bedroom homes decreased by 66.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 30 | 19 | -36.7% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Raleigh, you may be able to get a good deal. 63.2% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in West Raleigh in November 2024, down by 36.7% month-over-month. Of the 19 sold homes, 63% were sold under asking, 26% were sold at asking, and 11% were sold over asking.
Days on Market for West Raleigh, NC
How long does it take to sell a home in West Raleigh, NC?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 54 Days | 25 Days | -52.1% |
Summary: Homes in West Raleigh had an average of 25 days on market in Nov 2024, down by 52.1% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in West Raleigh are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 19 homes were sold in West Raleigh; 63% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
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