Market Update for Spring 2024 Raleigh North Carolina

[Benjamin Carver]

Rounding the bend on quarter 1 of 2024, let's look at the Raleigh Housing Market and see what's going on. This is using updated data from the MLS and Redfin.

Median Sales Price: $382k (down 2%)

Median Single Family Price: $433k

Median Townhome Price: $333k

Median Condo Price: $270k

Average DOM: 35

Number of Homes Sold: 296 (down 6%)

Homes receive 2 offers on average.

19% of homes sell above asking still.

Average Sale-to-List Price of 98%

67% of homes utilize a price drop to attract buyers.

The most popular neighborhoods were:

- Brier Creek

- North Hills

- Downtown

- West Cary

According to CBS News: "Raleigh is #2 hottest real estate market in the US, Durham is #4, according to 2024 rankings"

Inventory is still below the "norm" but significantly higher than it has been in recent years. Last month in February, 1,000 for sale closed in Wake County. Febuary 2023 1,100