Looking into 2024: Full of Good News for Real Estate.
November Sales Results Raleigh/Wake County.
November Homes Sales in Raleigh: November Unit sales were down 11% YoY in Wake County (Raleigh Metro), Carolina to 1,155. Average sales price up 5.34% to $567,396.00.
Looking Forward, contracts written in November were down 2% YoY, and the list prices of the those contracts rose 8.8% to $557,298.00.
Showings in November were down 6% vs November 2022.
What does this mean? Home prices in Raleigh are up, existing homes are selling on average of 29 days on the market. There is a performance delta between existing homes priced below average (selling quicker at higher percentage of list price) and homes priced above average (taking longer, more price reductions).
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