$1,188 Closing Credit*
$100,000
588 SqFt
1 Bed
•1 Full Bath
Andrea Andrado Ochoa, Listing Office: Collective Realty LLC
Is West 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, 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
$417,833
$240/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$24,833(+6.3%)
Key Takeaway
Homes in West Raleigh have sold for 6.3% more than they did a year ago.
Summary: The median home sold price in West Raleigh was $417,833 in October 2024, up 6.3% from last year, and the median price per square foot was $240.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $147.4K | $175.1K | +18.8% |
| 2 Bedrooms | $279.7K | $275.5K | -1.5% |
| 3 Bedrooms | $418K | $419K | 0.2% |
| 4 Bedrooms | $577.5K | $559K | -3.2% |
| 5+ Bedrooms | $789.9K | $775K | -1.9% |
Summary: West Raleigh housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.8%, 2 bedroom homes decreased by 1.5%, 3 bedroom homes increased by 0.2%, 4 bedroom homes decreased by 3.2%, and 5+ bedroom homes decreased by 1.9%.
Housing Supply in West Raleigh, NC
How many homes are available in West Raleigh, NC?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 100 | 94 | -6.0% |
Summary: The West Raleigh real estate market had 94 homes for sale in October 2024, a 6.0% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 22 | 24 | +9.1% |
| 3 Bedrooms | 45 | 34 | -24.4% |
| 4 Bedrooms | 26 | 28 | +7.7% |
| 5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The West Raleigh housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 9.1%, 3 bedroom homes decreased by 24.4%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 32 | 29 | -9.4% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
5 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. 62.1% of homes here sold below asking price last month.
Summary: A total of 29 homes were sold or pending in West Raleigh in October 2024, down by 9.4% month-over-month. Of the 29 sold homes, 62% were sold under asking, 21% were sold at asking, and 17% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 44 Days | 43 Days | -2.0% |
Summary: Homes in West Raleigh had an average of 43 days on market in Oct 2024, down by 2% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West Raleigh are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 29 homes were sold in West Raleigh; 69% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
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