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Wake County Market Trends: July 2016

By Dianne Goode

Real Estate Agent with Raleigh Cary Realty NC Broker #178638

August 24, 2016 10:53 AM

Here is a snapshot of the current real estate market for residential real estate in Wake County


New home inventory	Up 10% over July 2015.
Resale inventory	Down 16% from July 2015.
Average sales price	Up 7% over July 2015
Average Days on Market	36, down from 39 in July 2015.
Closed sales in July	Up 3% over July 2015.
Closed sales year-to-date	Up 6% over this point in 2015.
Months of supply	2 months' supply -- a Seller's Market.

Comments	New construction in North Raleigh, Morrisville, Cary, and Apex is hard to find below $450,000. The feeding frenzy for well-priced resale homes under $300K in those areas is likely to continue.

	Statistics from the T.A.R.R. Report, deemed reliable but not guaranteed.

SEARCH ALL AVAILABLE TRIANGLE HOMES
FOR SALE, LIKE I DO!

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Sally K. & David L. Hanson

EXP Realty 414-525-0563 - Brookfield, WI

WI Real Estate Agents - Luxury - Divorce

Looks like a healthy market Dianne Goode and you have done a great job of comparison so often missing from market reports.

Aug 24, 2016 07:03 PM

Roy Kelley

Gaithersburg, MD

Jim Crawford

Long & Foster - Fredericksburg, VA

Jim Crawford Broker Associate Fredericksburg VA

Thank you for taking the time to share this. This is perfect information for anyone interested in buying or selling real estate.

Aug 24, 2016 10:40 PM

Roy Kelley

Gaithersburg, MD
Jim Crawford

Fredericksburg, VA

Endre Barath, Jr.

Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA

Realtor - Los Angeles Home Sales 310.486.1002

Yes that is the trend all over the country prices increasing days on market decreasing, Endre

Aug 25, 2016 04:21 PM

Dianne Goode

Raleigh Cary Realty - Raleigh, NC

Realtor/Broker

Hi Sally and David. It's frustrating for buyers at the lower price points. We are short of resale inventory, and new homes are priced out of their reach.

Jim, thanks for stopping by to comment.

Hi Endre. Shortage of inventory is the reason for both the rising prices and declining DOM. An unbalanced market isn't healthy but I don't see the situation turning around anytime soon.

Aug 27, 2016 02:13 AM

Roy Kelley

Retired - Gaithersburg, MD

Families on the move will appreciate your local real estate market reports.

Aug 30, 2016 12:19 AM

Debbie Laity

CinaJones Real Estate - Cedaredge, CO

Your Real Estate Resource for Delta County

You seem to have good market conditions. This is great information for both buyers and sellers.

Aug 30, 2016 09:27 AM

Debbie Reynolds, C21 Platinum Properties

Platinum Properties- (931)771-9070 - Clarksville, TN

The Dedicated Clarksville TN Realtor-(931)320-6730

A 2 month;s supply is not enough and means buyers have to be ready to pull the trigger the moment the right house comes on the market.

Sep 03, 2016 12:28 PM

Thanks for sharing your local real estate market report.

Enjoy the holiday weekend.

Sep 03, 2016 09:19 PM

Jeff Dowler, CRS

eXp Realty of California, Inc. - Carlsbad, CA

The Southern California Relocation Dude

Hi Dianne

Nice and concise summary of the Wake County housing market. Looks like some positive shifts, but with that tight inventory buyers need to work with someone like you so they understand what they have to do and quickly. Hope this makes the phone ring.

Jeff

Sep 08, 2016 05:17 AM

Wake County Market Trends: July 2016

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Dianne Goode

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