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Winter 2012 Market Update
If you can qualify, now is an exceptional time to buy a home in North Raleigh. Low rates with falling home prices makes a home purchase a great value! Call now for more information at 919-280-2266
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| Average Home Price | $325,000 - View Graph Trend |
| Average Price Compared to Last Year | Down 0-5% |
| Average Time on Market | 90-120 days |
| Best Selling Price Range | $200,000 - $249,000 |
| Worst Selling Price Range | $1,000,000+ |
| Prices As % of Asking Price | 95-100% |
| Existing Home Prices for the past 90 days are? | Decreasing |
| Market Trend | Decreasing |
| Buyers’ or Sellers’ Market | More sellers than buyers |
| Buyer Activity for the past 90 days in North Raleigh is | Decreasing |
| Seller Activity for the past 90 days in North Raleigh is? | Decreasing |
| Multiple Offers? | No |
| Multiple Offers Commentary | Aggressively priced homes do receive multiple offers. |
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 10-15% |
| Is Financing Available For Qualified Buyers? | Yes |
| Housing Inventory | Good supply - Some Prices |
| Inventory Comments | Despite a decrease in inventory of 14% the average sale price is down 3.5% and the average time to sell a home in North Raleigh has increased from 92 days to 117 days. Continues to be a buyers market. |
| Greatest Activity | Repeat Buyers |
| Reason to Buy/Sell | Job Growth |
| Nearest Metro Area | Raleigh |
| Housing Hot Spots | Heritage at Wake Forest is selling very well and north west Cary continues to do well. |
| Average Sold Price | $325,000 - View Graph Trend |
North Raleigh Local News
Sluggish housing market in line for a better 2012, according to quarterly survey
The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.
The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.
Click here for full article...
The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.
The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.
Click here for full article...
Contact Information
Steve Hamilton
919-280-2266
Request More Information Let me answer your questions!
Ask Me!
Blog Archives
Mortgage Rates
– Feb 23rd, 2012 –
---------------------------------
30 yr. fixed rate: 3.90%---------------------------------
15 yr. fixed rate: 3.17%
30 yr. jumbo rate: 4.68%
15 yr. jumbo rate: 3.96%
Home Values
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Request More Information Let me answer your questions! Ask Me!
Steve Hamilton
Fonville Morisey Realty
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 919-280-2266
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