Spotlight On: New Home Construction in Raleigh, NC
Is it at an all time low?
We ventured into the Triangle MLS to see what our supply of New Construction units has to offer - including single family homes, townhomes, condos and everything in between.
What did we find? Turns out, we are well below demand in Wake County. According to our research conducted in April of 2022, 92% of all available new construction units are under contract.
That leaves 8% - or 181 dwellings - left to the open market as Active or Coming Soon Listings in all of Wake County. The real estate market is in need of inventory and due to shortages in both labor and material, builders are struggling to keep pace with homebuyers demand for newly built homes, townhomes and condos in Raleigh and all around the Triangle.
What is the good news? There are quite a few projects in the works that are not included in that figure found from TMLS data, meaning there's more out there than meets the eye if you have a good REALTOR. We're also headed into a Spring real estate market and our team of real estate experts predicts that it will bring more inventory, taking away some competition for new construction homes.
Here are a few communities that still have active new construction listings in Raleigh and greater Wake County:
Want to build your own? We work with builders to find available lots in prime locations around North Hills, ITB, Cary and anywhere you want to be! Contact us:
Here's a peek at what projects we have in the works: Bart Prime, and 29 Enterprise (more details coming soon).
At Rich Realty Group, it's a great day to buy real estate!
Call or email us today for help with your home buying or home selling goals in Raleigh: 919-710-0256 - firstname.lastname@example.org