It’s no secret that Raleigh’s real estate market is booming. Home prices had already hit record highs in 2021 but studies show that they are going to go even higher in 2022.
According to an article sourced on WRAL TechWire, the Raleigh market will be the third hottest housing market in the U.S. this year!
Home values are forecasted to rise nearly 24% in Raleigh’s real estate market. The current average price of a home in Raleigh is $391,444, but analysis from Zillow has found that this year, a typical home value will be well over $450,000.
When you take a look back at 2021, you can see that Raleigh’s home prices have been trending upward for the last few months. Across the region, the median sale price for a home was $369,000 in November 2021, up from the median sale price of $365,000 in October 2021, with 4,073 transactions closed in November 2021 compared to 4,007 transactions in October 2021, according to the latest reports from the Triangle Multiple Listing Service.
Who Else Made the List?
The top 10 hottest housing markets predicted by Zillow:
- Tampa
- Jacksonville
- Raleigh
- San Antonio
- Charlotte
- Nashville
- Atlanta
- Phoenix
- Orlando
- Austin
The predictions from Zillow are based on:
- Forecasted home value growth
- A thriving job market
- Relative scarcity within markets
- Fast-moving inventory
- Demographics that indicate a good number of potential buyers
You can read the full article online at WRALTechWire.com.
What Does This Mean for You?
The Triangle continues to be a seller’s market. If you are thinking about buying a home, you need to have a real estate agent on your side. I am seeing homes sell after being on the market for just one day. I am also seeing more bidding wars and buyers are needing to come to the table ready to make a competitive offer. I have an expansive knowledge of the market and a great relationship with other real estate agents in the area. This helps me be able to find homes that are coming for sale before they hit the market. If you are a buyer, I do not want you to get discouraged. You can still find wonderful homes in the area at reasonable prices—you just have to know where to look!
If you have been thinking about selling your home, now is the time to do it! Even in a seller’s market, you are going to want a real estate agent. A real estate agent is there to act on your behalf. As your agent, I will act as a buffer to take the spam out of your property showings and I will field calls that lead to nowhere saving you time and helping you find serious buyers who are ready to make an offer. I have an intimate knowledge of the neighborhoods and can help you with pricing your home and marketing it correctly. Your home will be added to the MLS so that a large number of buyers will have access to the property. I will also absorb the costs of advertising and marketing your home. I will help with all your negotiations to ensure a smooth process and will then handle the volumes of paperwork that follow a sale.
Whether you are looking to sell your house, buy your first or next home, or have questions about the current estate market, I would love to help! Give me a call anytime at 919-961-3277 or email me at Annie@HudsonResidential.com.