Raleigh Real Estate Market Update - September 2012
We had a much better real estate market in Raleigh in September 2012 compared to September 2011. Many of the main indicators showed improvements. From # of cloed sales in Raleigh to average sold prices to the average days on market until sold.
One striking measure I found important is the Months Supply of Homes For Sale. According to data from the Triangle MLS there is a 5.6 months supplly of homes for sale in Raleigh NC. This means if no new homes entered the market we would have 5.6 months until all homes are sold based on the rate in which they are currently selling. To me this speaks volumes about the health of the Raleigh real estate market. According to the National Association of REALTORS a 6 month supply of homes indicates a balanced market.
Homes continue to sell at a good clip as I write this in mid October 2012. My prediction is we will have a very strong real estate market in Raleigh this spring of 2013. So whether you are buying or selling a home in Raleigh you are bound to experience a lot of activity.
To view the full market report click below.
For All Raleigh Homes For Sale