Raleigh Housing Inventory on the Rise

August 10, 2020 • Insights

Raleigh’s real estate market is bouncing back from a sharp drop in inventory in late 2019 and spring 2020. This current increase in listings is helping to create a healthy real estate market and a better balance between buyers and sellers for listings in the Triangle.

What does this mean for Real Estate in Raleigh, NC?

• The market is picking up where it dropped in March due to COVID-19
• July listings are up 9% YOY compared to 2019
• Homes are selling faster than average
• The market is balancing out
• It’s a great time to be both a buyer and a seller

Marshall’s Take

“What we’re seeing now is a delayed spring market from when COVID hit bleeding into the summer months, flooding the market with great inventory and creating a double market with more demand. This is one of the best times to buy or sell that I’ve ever seen in my 20+ years of selling real estate in Raleigh.

It’s a great time to BUY because the interest rates are so low, and it’s a great time to SELL because homes are selling incredibly fast. Closed sales are up 31% YOY from June 2019, and these listings are selling for record prices per square foot.”n

To work with an experienced broker who understands the Raleigh real estate market, contact Rich Realty Group today.