Triangle Real Estate News, Stats, & Information
Check back often for the latest and greatest of the Triangle area's real estate news, stats, and information. We feature all Raleigh real estate trends and listings.
Inside the Beltline Real Estate Update January 2013
Inside the Beltline, Raleigh NC - UNDER CONTRACT
The Raleigh housing market saw modest improvements in 2012 and 2013 looks even better! Seventy one homes Inside the Beltline in Raleigh went under contract in January 2013. While at the same time last year only thirty-two homes sold. This is a 122% increase in the number of homes under contract Inside the Beltline. Buyers are taking advantage of the low interest rates and feel confident about the improvement in the US economy.
We charted out the statistics for homes under contract Inside the Beltline in Raleigh. Click to view a larger chart.
The number of for sale properties Inside the Beltline is down 22% from January 2012 to this year. Meanwhile the number of sold properties is up 187%. Real estate Inside the Beltline in Raleigh is a hot product. Raleigh home sellers should see these numbers and feel confident about listing and selling their home this spring.
We charted out the supply and demand for homes Inside the Beltline. Click to view chart.
**Information deemed reliable but not guaranteed. All statistics are from the Triangle MLS.
Highlights of Triangle NC Real Estate Market in 2012
In a recent post we discussed how the number of home sales in the Triangle in 2012 was at the highest levels since 2008. We also posted a Triangle real estate market update video covering various local statistics and trends. In this post we'd like to illustrate more highlights from the 2012 greater Raleigh real estate market.
Hottest Triangle NC Price Ranges
- Homes under $100,000 and below sold this quickest in 2012 with an average 107 days on market
- Homes between $101,000 and $150,000 came in second palce with an average of 127 days on market
- Homes between $201,000 and $300,000 came tied for second with an average of 127 days on market
- Homes between $301,000 and $500,000 had the strongest one-year change in sales at 24.3% increase
Months Supply of Inventory in the Triangle
- 4.6 months supply of new construction in the Triangle
- 6.2 months supply of existings homes in the Triangle
- 6 months supply of homes equals a balanced market
- Less than 6 months supply of homes results in a sellers' market
- More than a 6 monhs supply of homes results in a buyers' market
Percent of Original List Price Received
The following numbers indicate how close sellers came to receiving their original asking price for their homes.
- For new construction, sellers received on average, 97.7% of the original asking or list price.
- For existing homes, sellers received on average, 92.4% of their original asking price.
To read the full year end report published by the Triangle MLS Click Here. All information is deemed reliable but not guaranteed. All of the information about was pulled directly from the Triangle MLS.
Raleigh Real Estate
Raleigh Rated Most Family Friendly City in the US
According to the Human Life Project, Raleigh is the most family friendly city in the US. The group also ranked Raleigh #2 for community, #3 for education, and #3 for housing.
Again, another great rating for Raleigh making the city a great place to live, work, and play.
Triangle NC and Raleigh Real Estate Market Update
We recently posted about the strong year-end performance of the Raleigh real estate market, the number of homes sold in Raleigh, the prices, and about the inventory of homes for sale in Raleigh. This post focuses on the trends of the larger Triangle NC real estate market including Chapel Hill, Cary, Durham, and Chatham County.
The highlight is the number of sales Triangle wide for 2012 was at the highest level since 2008. Please watch the short video below to see the other statistics and trends of the Fourth Quarter of the Triangle NC real estate market
How Did the Raleigh Real Estate Market Finish 2012?
The sales are in, the data is crunched, and we know how the Raleigh real estate market finished 2012. Was it good, bad, ugly? Actually, it turned out quite good. 110 more homes sold in Raleigh in December 2012 than in December 2011, a difference of 26.8%!
What about the median price of homes sold in Raleigh? Well, this statistic increased 3.3% from $191,750 to $198,000.
The last two noteworthy items of December 2012 I will cover here include the amount of homes for sale in Raleigh and the relative months supply of homes. The inventory of homes for sale in Raleigh decreased 22.4%. This contraction helps to regulate the market and pricing but ultimately decreases the options for buyers.
The months supply of homes decreased to 4.9 months from 7.8 months making the Raleigh real estate market statistically a sellers' market. So if you have sat on the sidelines the last few years unsure whether the time is right to sell your Raleigh home it is now your opportunity to capitalize on the change coming to the real estate market.
** Data and statistics according to the Triangle MLS. Information deemed reliable but not guaranteed.
Is It Time To List and Sell Your Raleigh Home?
If you'd like to discuss more trends in the Raleigh real estate market or discuss listing and selling your home Contact Us. We are a group of experienced, knowledgeable, and tech-savvy REALTORS. With the right tools and right advice we get your Raleigh home sold.
Happy New Year to the Raleigh Real Estate Market!!
The Raleigh real estate market significantly improved from 2011 to 2012. With the momentum picking up 2013 is bound to be a fantastic year for real estate in the Raleigh and Triangle NC areas.
Here is a list of positive news for the real estate market in 2013
- Housing Wire Trends for 2013
- Fiscal Times Outlook for 2013
- Forbes Magazine 2013 Real Estate Forecast
75 Cedar Run, Pittsboro - Sold $259,000
3 Bedroom Home Sold in Pittsboro
Raleigh Real Estate Market Update - November 2012
Top Positive Stats of November 2012
- Average sales price - $243,488 - Up 5.3% from November 2011
- Total sales volume - $116.9 million up 35.6%
- Months supply of inventory - 4.9 months down from 8.6 months in November 2011
As you can see from the stats above, we have much to appreciate about the Raleigh real estate market right now. Average sales prices are up as well as the median price. The total # of sales and the total sales volume is increasing. And the supply of homes on the market in Raleigh has decreased to a healthy and balanced level. Though many Raleigh sellers sat on the sidelines waiting to see how the market would perform this year.
The end of the 2012 is rapidly approaching so we will keep you informed of the statistics for the entire year. If you like this article
** Information courtesy of the Triangle Multiple Listing Service. Information deemed reliable but not guaranteed.
Chatham County Real Estate Market Update - November 2012
Overall real estate in Chatham County NC did better in November of 2011 than in 2012. There were slightly less # of homes sold in 2012 compared to last year. The total sales volume was little less too. The median sales prices decreased 2.4% to $264,750.
So where is the positive news? Well, the # of days on market until a home sold decreased by 33 days to 123 days on market. Meaning Chatham County homes sold a little faster in November this year. And, the months supply of inventory also decreased to 10.2 months. 6 months supply is a balanced market. So right now we are certainly experiencing a sellers' market in Chatham County real estate.
Stay tuned for my final edition of the year and a complete look at all of 2012.
Statistics courtesy of the Triangle MLS.
Top 3 Neighborhoods in Pittsboro NC - View the top selling Pittsboro communities
Chatham County Real Estate - Fall 2012 Trends
How is the real estate market in Chatham County? What's the lastest with Chatham County real estate? Those are the questions I am hearing these days. The answwer is....it's a little good and a little bad... In October the # of sales has increased by 17.5% according to the Triangle Multiple Listing Service (TMLS). This is good. The average sales price in Chatham County has also increased by 9.9%. This too is a good statistic. Lastly, the total sales volume of sold homes in Chatham County has increased in October 2012 from $11.6 million to $14.9 million, a 28.6% increase.
So you may ask, "what is so bad about the Chatham market?". Well, the supply of inventory of homes for sale. It is at a 10.7 months supply of homes. The National Association of REALTORS say a 6 month supply of homes is a balanced market. So, at the current rate in which homes are selling in Chatham County it would take 10.7 months for all homes to be gone. It is definitely a BUYER'S MARKET in Chatham County right now.
Fortunately, in October 2011 we had a 13.7 months supply of homes in Chatham. So on the bright side, the market is improving.
Another piece of information to note is the days on market until a home sells is up 7.8% to 138 days. So if you are looking to sell your Chatham County home, it may take upwards of 4 months to sell.
*All data is from the Triangle MLS. Information accurate but not guaranteed.
To view the Full October 2012 Market Report.
To learn more about the real estate market in Chatham County, Contact Us.
To go back To Raleigh Real Estate
Top 3 Neighborhoods in Pittsboro NC - View the top selling Pittsboro communities