"In November, home prices fell substantially from the month before, with a median listing price of $465,000. The number of listings on the market shrank 5.0% from last month, which is a bigger decrease than normal for this time of the year in Raleigh, and homes are also selling slower than at the same time last year. Typically, home price per square foot in Raleigh tend to fall in November."
"So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 1.2%, which means price changes in the City of Oaks are smaller the national market. Raleigh inventory In November, there were 1,812 homes for sale in Raleigh, which was 5.0% less than the month before and 26.0% more than the same time last year. Meanwhile, active inventory across the nation fell by 2.5% from last month to 1,072,266."
Median listing price in Raleigh was $465,000 in November, reflecting a substantial monthly decline. The number of listings dropped 5.0% from the prior month, a larger-than-normal seasonal decrease, while active inventory rose 26.0% year-over-year to 1,812 homes. Price per square foot in Raleigh decreased by 0.2% month-over-month, a smaller decline than the national decrease of 1.2%. Homes in Raleigh averaged 61 days on market in November, two days longer than the previous month and three days longer than the same month last year. Nationally, homes averaged 64 days on market in November.
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