Raleigh, Durham & Triangle Region

RESIDENTIAL SALES SUMMARY

At the end of September, 2022 the Triangle Area's residential real estate market has begun to paint a picture of a market in transition from record low inventory and unprecedented buyer demand, to a more balanced market benefitting both buyers and sellers. Throughout the Raleigh area, buyers continue to compete for homes, however selection of homes to choose from has increased with a growing inventory and a longer period of days on market

Key observations from September, 2022 are:

Homes in Raleigh sold for 97.8% of the asking price in this active seller's market during

September's sales results saw inventory in all of the markets we serve, surge forward more than 70%! This represents a dramatic turn from the previous quarter.

The shortest average time to have an offer accepted on a home in Raleigh is 22 days, over 144% faster than September 2021 results!

Closed sales are down 20.8% in September 2022, likely due to continued interest rate hikes, economic & geo-political instability.

September. A 5.7% decrease from the previous month

THE TRIANGLE AREA | RALEIGH

RESIDENTIAL SALES SUMMARY

Raleigh’s real estate market has been red hot, with prices at record highs. Home values however are beginning to hold steady, rising slower this quarter, pushing the Average Sales Price of Raleigh homes to $516,551–marking a year of Raleigh average home prices exceeding $500,000.

THE TRIANGLE AREA | DURHAM

RESIDENTIAL SALES SUMMARY

Triangle Area real estate markets remain active, with the areas of Durham and Wake County showing particular demand. That's still positive news for sellers, for now. For buyers, rising inventory and longer days on market will add more balance to this highly competitive market.

THE TRIANGLE AREA

RESIDENTIAL SALES SUMMARY