RALEIGH AREA HOUSING MARKET DATA

There was an increase in total units sold in March, with 550 sold this month in 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 430 units or 41%. The total number of active inventory this March was 1,486 compared to 1,056 in March 2024. This month's total of 1,486 is higher than the previous month's total supply of available inventory of 1,405, an increase of 6%.

Last March, the median sale price for Raleigh Area Homes was $431,000. This March, the median sale price was $454,055, an increase of 5% or $23,055 compared to last year. The current median sold price is 3% higher than in February.

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

In March, there was 2.7 months of supply available in Raleigh Area, compared to 1.8 in March 2024. That is an increase of 50% 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 923 homes newly listed for sale in Raleigh Area compared to 764 in March 2024, an increase of 21%. There were 701 current contracts pending sale this March compared to 654 a year ago. The number of current contracts is 7% higher than last March.

In March, the average sale price in Raleigh Area was 98.8% of the average list price, which is 0.6% lower than at this time last year.

This month, the average number of days on market was 53, lower than the average last year, which was 71, a decrease of 25%.





FOCUS ON: RALEIGH AREA HOUSING MARKET			MARCH 2025

Zip Code(s): 27601, 27603, 27604, 27605, 27606, 27607, 27608, 27609, 27610, 27612, 27613, 27614, 27615, 27616 and 27617
Units Sold 550	Active Inventory 1,486	Median Sale Price $454,055	Days On Market 53

Down -6% Vs. Year Ago	Up 41% Vs. Year Ago	Up 5% Vs. Year Ago	Down -25% Vs. Year Ago


		Units Sold There was an increase in total units sold in March, with 550 sold this month in 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 430 units or 41%. The total number of active inventory this March was 1,486 compared to 1,056 in March 2024. This month's total of 1,486 is higher than the previous month's total supply of available inventory of 1,405, an increase of 6%.
		Median Sale Price Last March, the median sale price for Raleigh Area Homes was $431,000. This March, the median sale price was $454,055, an increase of 5% or $23,055 compared to last year. The current median sold price is 3% higher than in February. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 923	Current Contracts 701	Sold Vs. List Price 98.8%	Months of Supply 2.7

Up 21% Vs. Year Ago	Up 7% Vs. Year Ago	Down -0.6% Vs. Year Ago	Up 50% Vs. Year Ago


		Months of Supply In March, there was 2.7 months of supply available in Raleigh Area, compared to 1.8 in March 2024. That is an increase of 50% 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 923 homes newly listed for sale in Raleigh Area compared to 764 in March 2024, an increase of 21%. There were 701 current contracts pending sale this March compared to 654 a year ago. The number of current contracts is 7% higher than last March.
		Sale Price to List Price Ratio In March, the average sale price in Raleigh Area was 98.8% of the average list price, which is 0.6% lower than at this time last year. Days on Market This month, the average number of days on market was 53, lower than the average last year, which was 71, 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.