How's the Raleigh NC Real Estate Market?

Real Estate Agent with Keller Williams Preferred Realty

Raleigh NC Average Home Price Increased

December 2022

Raleigh has consistently been one of the fastest growing Real Estate markets for decades. It's consistency makes it a great place to invest in Real Estate. One thing local leaders have in common is they want to keep it as one of the best places to live as well as the fastest growing. The new year is no different. 


For 2023, Raleigh has been predicted to be the 2nd fastest growing metro area in the Nation.


For those of us who live in Raleigh, it's really no surprise. Raleigh and growth seem to be synonymous. 

People are predicting a recession and for home prices to drop. That may happen but some areas are more likely to be insulated. The most recent release from Raleigh's Wake County list the average home price as $465k which is a $12k increase since November of 2022. 

Considering North Carolina is listed as the State of the Year for Economic Growth, we'll likely see more growth in the months and years to come.

What does that mean for homebuyers? The Metro Raleigh area still has room for growth and it is a good time to purchase a home. Yes, interest rates are up. However, keep in mind they're closer to normal than you might think. Low interest rates may have been the normal for the millennial generation but not for previous generations. For people who purchased homes prior to 2010, they were not finding rates in the 2-3% range.


Check out this graph from and you'll see a correlation of lower interest rates toward the end of the previous recession. The purpose of the lower interest rates was to pull folks out of the slumping economy and encourage millennials to buy a home. It's surprising how long the low interest rates remained. 

For folks who purchased homes prior to 2010, the norm was to refinance whenever the interest rates dropped. The longer you've owned your home, the more times you've probably refinanced to get a better interest rate or shorter term. Ultimately, you had a home or real estate investments that were gaining equity.


I wouldn't expect a repeat of 2021-2022 just yet. And who knows if the interest rates will ever dip as low as they did?

One thing I can tell you about the Real Estate market that is constant is change. 2021-2022 was a surprise for many. It was an anomaly that hadn't been experienced before. Coming off a market like we had in 2021 and 2022 is new to us as well. We're experiencing another kind of change in 2023-2024 and the prediction being made might be correct or we might all be surprised. 

So far, 2023 has been an interesting year in the Metro Raleigh area. Let's hope it continues to be a good one.

If you're interested in selling your Metro Raleigh-Cary home or looking to purchase a home, please reach out to Carla.

Triangle Homes And Real Estate

Posted by

Raleigh Cary Apex Realtor Carla Freund Realty

Presented by:

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Carla Freund Realty Team

Keller Williams Preferred Realty

By Carla Freund Realty Team

Original Home of "Market In A Minute" Real Estate Report for Raleigh Cary CH & Durham Triangle

Carolina Life Real Estate and Relocation


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Contact Carla Freund, Broker, Keller Williams Preferred Realty,  Licensed Realtor® in North Carolina at 919-602-8489 to list your property for sale or to purchase a property in Cary, Raleigh, Morrisville, Apex, Fuquay-Varina, Garner, Holly Springs, Pittsboro, Durham, Chapel Hill, Johnston County, and the surrounding areas.

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Disclaimer: The information provided herein is supplied by several sources and is subject to change without notice. The Raleigh - Cary Home Reviews Blog, Keller Williams and Carla Freund does not guarantee or is any way responsible for its accuracy, and provides said information without warranties of any kind, either expressed or implied. Entries on Raleigh - Cary Home Reviews represent the opinions and ideas of the author(s). Raleigh - Cary Home Reviews Blog does not express the views of Keller Williams, or those of the broker.


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Comments (5)

Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Nice update on the Raleigh market, Carla... I always keep an eye on it from Charlotte, as I work with people moving from the Raleigh area to Charlotte at least once or twice a year. Charlotte, too, is seeing crazy growth and I don't see that changing in either of our regions.

Jan 07, 2023 05:00 AM
Carla Freund

Same here Nina. Sometimes people move to NC and aren't sure which area is best for them, they graduate collage and move, move closer to family, or just have a job change. I agree, we're in the best NC areas with the most growth.

Jan 07, 2023 05:47 AM
Roy Kelley
Retired - Gaithersburg, MD

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

Have a productive January.

Jan 07, 2023 10:46 AM
Carla Freund

Thank you so much Roy! You as well.

Jan 08, 2023 07:01 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Carla, always fun reading market reports from other cities, and hope you enjoy a great 2023!

Jan 13, 2023 06:10 AM
Carla Freund

Thank you Joan. I agree with you. This is especially true when your live in an area people are relocating to.

Jan 17, 2023 01:02 PM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

This should grab the attention of both buyers and sellers interested in the Raleigh Real Estate market!

Jan 13, 2023 09:40 AM
Carla Freund

Thanks Larry & Sheila! I hope you're off to a great start this week!

Jan 17, 2023 01:01 PM
Patricia Feager, MBA, CRS, GRI,MRP
Selling Homes Changing Lives

Hi Carla Freund - Back in the 1990's I visited Raleigh and enjoyed my stay. Everyone was so nice, friendly, the food was great. People were very informative and made me feel welcomed. By the sounds of things, those great qualities I appreciated are still there! 

I hope people who are thinking about moving to NC will consider giving you a call to learn more about all that Raleigh has to offer!

Feb 08, 2023 02:41 PM
Carla Freund

Thank you so much Patricia Feager, MBA, CRS, GRI,MRP! Raleigh has a lot to offer. We've really enjoyed living here. Have a wonderful weekend!

Feb 10, 2023 06:14 AM