Is Southeast Raleigh, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Southeast Raleigh has remained a Seller's Market.
Key Takeaway
Southeast Raleigh is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Southeast Raleigh, NC
How much do homes in Southeast Raleigh, NC cost?
Median Sold Price
$334,347
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Southeast Raleigh have sold for 1.3% more than they did a year ago.
Summary: The median home sold price in Southeast Raleigh was $334,347 in May 2024, up 1.3% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $255K | $244K | -4.3% |
| 3 Bedrooms | $327.4K | $325K | -0.7% |
| 4 Bedrooms | $379K | $356K | -6.1% |
| 5+ Bedrooms | $370K | $395K | +6.8% |
Summary: Southeast Raleigh housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 4.3%, 3 bedroom homes decreased by 0.7%, 4 bedroom homes decreased by 6.1%, and 5+ bedroom homes increased by 6.8%.
Housing Supply in Southeast Raleigh, NC
How many homes are available in Southeast Raleigh, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 101 | 116 | +14.9% |
Summary: The Southeast Raleigh real estate market had 116 homes for sale in May 2024, a 14.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 12 | 15 | +25.0% |
| 3 Bedrooms | 72 | 81 | +12.5% |
| 4 Bedrooms | 16 | 17 | +6.3% |
| 5+ Bedrooms | 1 | 3 | +200.0% |
Summary: The Southeast Raleigh housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 20 | -4.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Southeast Raleigh, expect to pay close to the asking price. 65% of homes here sold near the asking price last month.
Summary: A total of 20 homes were sold or pending in Southeast Raleigh in May 2024, down by 4.8% month-over-month. Of the 20 sold homes, 30% were sold under asking, 65% were sold at asking, and 5% were sold over asking.
Days on Market for Southeast Raleigh, NC
How long does it take to sell a home in Southeast Raleigh, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 82 Days | 9 Days | -88.3% |
Summary: Homes in Southeast Raleigh had an average of 9 days on market in May 2024, down by 88.3% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Southeast Raleigh are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 20 homes were sold in Southeast Raleigh; 85% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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