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Raleigh’s “Weak and Declining” Real Estate Market

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Raleigh’s “Weak and Declining” Real Estate Market
Wake County real estate average prices have had an overall upward trend since December rising a healthy 3.5% while the Median is nearly flat with only a modest gain of .375%.

Although there are probably different definitions, for the purpose of this post, the absorption rate is the ratio of closed sales compared to the monthly new listings added to the market each month.

This is an important trend to observe because it gives a good indicator of where the market is trending. In this example you can see that with exception for December of 2013 which is an outlier, in all of 2014 there has only been one month where the absorption rate has declined.

Since March Wake county real estate when compared to new listings sales has seen a strong increase in demand.

Absorption rate in Raleigh
Absorption rate in Raleigh
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About

Since relocating from Northern Michigan in 2007 I have lived in Garner (27529) with my wife Melanie and our four children. With personal production of 8MM in real estate sales across Southern Wake County I am considered to be a local market expert in the following communities: Garner (27529), Fuquay-Varina (27526), Holly-Springs (27540), Apex (27502), and Raleigh (27603, 27604, 27606, 27609, 27610)) which spans from downtown Raleigh to Willow Spring including Lake Wheeler. Call or email me, I’m here to help! Ricardo Cobos (919) 526-0183