Raleigh, NC home prices and housing market

Raleigh home values are down two percent, and nearly a quarter of sellers are cutting their price. Here is what that means if you are thinking about selling in Raleigh this year. The typical home in Raleigh is now worth about four hundred ninety-seven thousand dollars, after sliding roughly two percent over the past twelve months. And about 23 percent of active listings have already taken a price cut. Homes that do sell are taking about sixty-two days to go under contract, so this is no longer a market where a sign in the yard does the work. But here is the catch. The median asking price is still sitting near five hundred sixty-two thousand dollars, roughly sixty-five thousand dollars above what the typical home is actually worth. That gap is the whole story. Sellers are aiming high, buyers are not paying it, and the result is two months on market followed by a reduction. Meanwhile there are about two thousand homes for sale, so buyers have choices and no reason to chase. If you are selling, price to today's value, not last year's. A realistic number out of the gate beats sixty days of waiting and a public cut. Find out what your Raleigh home is worth right now with a free estimate at Home Value Pros dot com.