The real estate market is currently experiencing a low inventory situation, with only 2.48 months supply of homes available for sale. This means that there are fewer homes on the market compared to the demand from buyers, leading to a competitive environment for sellers.
Over the past 12 months, there has been a 3.77% increase in the months of inventory, indicating a slight trend towards a more balanced market. This could potentially result in less competition for sellers and more options for buyers. A good buyers agent in Raleigh can help you find your dream home quickly.
Homes are selling relatively quickly, with a median of 25 days on the market before being sold. This quick turnover time suggests that there is strong demand for homes in this market. A reliable sellers agent in Raleigh can help you in getting a great price for your home and make the process very smooth.
Sellers are also seeing a high list to sold price percentage of 98.5%, indicating that properties are typically selling very close to their asking price. This is good news for sellers as it suggests that they are able to achieve their desired price in this market.
The median sold price in this market is $471,500, which is a strong indicator of the overall health and desirability of the real estate market in this area. Buyers and sellers can both benefit from these market conditions, with sellers likely to see good returns on their investments and buyers finding value in the available properties.