Posted on behalf of Steve Hamilton of Fonville-Morisey Realty in Raleigh, North Carolina.
The Wake county real estate market experienced a 31% drop in sales August 08 vs August 07 for detached homes. Despite this significant drop in the number of sales the average sales price for a detached home only dropped 0.19%. Inventory is up approximately 25% and there is approximately a seven month supply of housing. In most areas and in most price points, it is a buyer’s market.
I now have all of my listings staged before going on the market and continually remind my clients that they need to price their home aggressively or it will not sell.
For more regional updates, click here.
Click to learn more about Raleigh real estate, Raleigh home prices and Raleigh homes for sale.
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I think that things are finally improving here in NC!! That’s a wonderful thing.
June 4th, 2009 at 4:46 pm