RALEIGH AREA HOUSING MARKET DATA

There was an increase in total units sold in February, with 397 sold this month in Raleigh Area Real Estate versus 380 last month, an increase of 4%. This month's total units sold was lower than at this time last year, a decrease of 17% versus February 2024.

Versus last year, the total number of homes available this month is higher by 267 units or 24%. The total number of active inventory this February was 1,368 compared to 1,101 in February 2024. This month's total of 1,368 is higher than the previous month's total supply of available inventory of 1,265, an increase of 8%.

Last February, the median sale price for Raleigh Area Homes was $400,665. This February, the median sale price was $440,000, an increase of 10% or $39,335 compared to last year. The current median sold price is 4% higher than in January.

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

In February, there was 3.4 months of supply available in Raleigh Area, compared to 2.3 in February 2024. That is an increase of 49% 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 732 homes newly listed for sale in Raleigh Area compared to 668 in February 2024, an increase of 10%. There were 530 current contracts pending sale this February compared to 574 a year ago. The number of current contracts is 8% lower than last February.

In February, the average sale price in Raleigh Area was 98.5% of the average list price, which is 0.9% lower than at this time last year.

This month, the average number of days on market was 55, lower than the average last year, which was 73, a decrease of 25%.





FOCUS ON: RALEIGH AREA HOUSING MARKET			FEBRUARY 2025

Zip Code(s): 27601, 27603, 27604, 27605, 27606, 27607, 27608, 27609, 27610, 27612, 27613, 27614, 27615, 27616 and 27617
Units Sold 397	Active Inventory 1,368	Median Sale Price $440,000	Days On Market 55

Down -17% Vs. Year Ago	Up 24% Vs. Year Ago	Up 10% Vs. Year Ago	Down -25% Vs. Year Ago


		Units Sold There was an increase in total units sold in February, with 397 sold this month in Raleigh Area Real Estate versus 380 last month, an increase of 4%. This month's total units sold was lower than at this time last year, a decrease of 17% versus February 2024.
Active Inventory Versus last year, the total number of homes available this month is higher by 267 units or 24%. The total number of active inventory this February was 1,368 compared to 1,101 in February 2024. This month's total of 1,368 is higher than the previous month's total supply of available inventory of 1,265, an increase of 8%.
		Median Sale Price Last February, the median sale price for Raleigh Area Homes was $400,665. This February, the median sale price was $440,000, an increase of 10% or $39,335 compared to last year. The current median sold price is 4% higher than in January. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 732	Current Contracts 530	Sold Vs. List Price 98.5%	Months of Supply 3.4

Up 10% Vs. Year Ago	Down -8% Vs. Year Ago	Down -0.9% Vs. Year Ago	Up 49% Vs. Year Ago


		Months of Supply In February, there was 3.4 months of supply available in Raleigh Area, compared to 2.3 in February 2024. That is an increase of 49% 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 732 homes newly listed for sale in Raleigh Area compared to 668 in February 2024, an increase of 10%. There were 530 current contracts pending sale this February compared to 574 a year ago. The number of current contracts is 8% lower than last February.
		Sale Price to List Price Ratio In February, the average sale price in Raleigh Area was 98.5% of the average list price, which is 0.9% lower than at this time last year. Days on Market This month, the average number of days on market was 55, lower than the average last year, which was 73, a decrease of 25%.


	Raleigh Area are defined as properties listed in zip code/s 27601, 27603, 27604, 27605, 27606, 27607, 27608, 27609, 27610, 27612, 27613, 27614, 27615, 27616 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.