NORTHWEST RALEIGH AREA HOUSING MARKET DATA

There was a decrease in total units sold in May, with 61 sold this month in Northwest Raleigh Area Real Estate. This month's total units sold was lower than at this time last year.

Versus last year, the total number of homes available this month is higher by 110 units or 109%. The total number of active inventory this May was 211 compared to 101 in May 2024. This month's total of 211 is higher than the previous month's total supply of available inventory of 179, an increase of 18%.

Last May, the median sale price for Northwest Raleigh Area Homes was $437,500. This May, the median sale price was $439,900, an increase of 1% or $2,400 compared to last year. The current median sold price is 16% lower than in April.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

In May, there was 3.5 months of supply available in Northwest Raleigh Area, compared to 1.5 in May 2024. That is an increase of 133% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

This month there were 126 homes newly listed for sale in Northwest Raleigh Area compared to 105 in May 2024, an increase of 20%. There were 82 current contracts pending sale this May compared to 84 a year ago. The number of current contracts is 2% lower than last May.

In May, the average sale price in Northwest Raleigh Area was 98.3% of the average list price, which is 2.3% lower than at this time last year.

This month, the average number of days on market was 56, higher than the average last year, which was 28, an increase of 100%.





FOCUS ON: NORTHWEST RALEIGH AREA HOUSING MARKET			MAY 2025

Zip Code(s): 27612, 27613 and 27617
Units Sold 61	Active Inventory 211	Median Sale Price $439,900	Days On Market 56

Down -10% Vs. Year Ago	Up 109% Vs. Year Ago	Up 1% Vs. Year Ago	Up 100% Vs. Year Ago


		Units Sold There was a decrease in total units sold in May, with 61 sold this month in Northwest Raleigh Area Real Estate. This month's total units sold was lower than at this time last year.
Active Inventory Versus last year, the total number of homes available this month is higher by 110 units or 109%. The total number of active inventory this May was 211 compared to 101 in May 2024. This month's total of 211 is higher than the previous month's total supply of available inventory of 179, an increase of 18%.
		Median Sale Price Last May, the median sale price for Northwest Raleigh Area Homes was $437,500. This May, the median sale price was $439,900, an increase of 1% or $2,400 compared to last year. The current median sold price is 16% lower than in April. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 126	Current Contracts 82	Sold Vs. List Price 98.3%	Months of Supply 3.5

Up 20% Vs. Year Ago	Down -2% Vs. Year Ago	Down -2.2% Vs. Year Ago	Up 132% Vs. Year Ago


		Months of Supply In May, there was 3.5 months of supply available in Northwest Raleigh Area, compared to 1.5 in May 2024. That is an increase of 133% versus a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.
New Listings & Current Contracts This month there were 126 homes newly listed for sale in Northwest Raleigh Area compared to 105 in May 2024, an increase of 20%. There were 82 current contracts pending sale this May compared to 84 a year ago. The number of current contracts is 2% lower than last May.
		Sale Price to List Price Ratio In May, the average sale price in Northwest Raleigh Area was 98.3% of the average list price, which is 2.3% lower than at this time last year. Days on Market This month, the average number of days on market was 56, higher than the average last year, which was 28, an increase of 100%.


	Northwest Raleigh Area are defined as properties listed in zip code/s 27612, 27613 and 27617.
	*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
	Information included in this report is based on data supplied by TRIANGLE and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of TRIANGLE or Long & Foster Real Estate, Inc.