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.
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