The Real Estate Market Statistics are out for June 2013 and once again there are many positive trends.
For North Raleigh the number of Closed Sales was up +15.9% when compared to the same time period in the year 2012. The total number of Closed Sales was 320. The inventory of homes for sale was down -9.3% however. The total number of homes for sale in North Raleigh in June 2013 was 1293.
The Absorption Rate for North Raleigh pretty much held steady at 5.1 which indicated a Sellers Market. This statistic shows a -28.8% drop from the same time period last year. Please keep in mind this statistic is ONLY for North Raleigh and different areas of the Triangle are experiencing different markets. For more information regarding the Absorption Rate, what it means and how it effects both buying and selling please visit What Is An Absorption Rate?
Finally, the Average Days on the Market is down -21.6% from the same time period last year. For June 2013 the Average Days on Market was 88.
If you have any questions regarding the statistics for North Raleigh or are interested in another area of Raleigh NC please give me a call or send me an email - I would be happy to help!