Even though the amount of homes sold in Raleigh for the month of July was a small jump from the year before at 2.2 percent, the amount of time homes are spending on the market as available for sale is at a very low level. Among the 3,191 homes that were sold in July, the properties were only on the market an average 89 days compared to an average 94 days on market a year ago. That is the shortest days on average since 2008.
Also, the average home sale price for the Triangle market was $250,047 in July, the second consecutive month with an average sale price of more than $250,000. That is also is a high-water mark since the 2008 selling season. Pending sales were also up by about 5.9 percent, which hints towards a highly active sales season for August. Moving to Raleigh? Act quickly when you find a home you like, because it’s highly likely you aren’t the only one interested in it!