Real Estate Market Report - Raleigh, NC (Dec, 2023)

The median sale price of homes in the area has increased steadily from $399,900 in December 2022 to $425,000 in November 2023, with the highest median price at $458,835 in June 2023. The median list price has also increased, starting from $390,495 in December 2022 to $425,000 in October 2023, with the highest median list price at $440,162.5 in June 2023.

The median sale price per square foot is expected to increase steadily from $214.548 in December 2022 to $221.253 in November 2023, with a peak in June 2023 at $234.193. In general, the data suggests a positive trend in the real estate market, with a gradual increase in home values.

The median sale price to list price ratio is consistently high, starting at 0.984 in December 2022 and reaching 1.0 from March 2023 through November 2023. This suggests that properties are generally selling for close to or even above their listed prices.

The data shows the number of properties sold/listed each month from December 2022 to November 2023. The highest number of properties sold/listed was in June 2023 with 778, while the lowest was in November 2023 with 525. There was a slight increase in properties sold/listed from December 2022 to February 2023, followed by a dip in March and April before picking up again in May. The number of properties listed for sale was consistently higher than the number of properties sold each month.

The median days on market for a property decreased from 85 days in January 2023 to only 9 days in May 2023, but then gradually increased again to 25 days in November 2023.