Raleigh Market Watch: Home Prices Climb as Inventory Grows

The Raleigh housing market stayed hot in February, with the median sales price rising to $440,000, a 3% increase from last month. While prices continue to trend upward, sales growth was moderate, with closed sales up just 3.3%. The big story? More homes are hitting the market, with active inventory growing by 6.3%.

Other notable trends:

- Price per square foot jumped 3.4%, signaling steady appreciation.

- New listings surged 30.7% compared to last year, giving buyers more options.

- Median days on market fell 15%, meaning homes are selling faster.

- Months supply of inventory rose 57%, shifting towards a more balanced market.

- Sellers are still getting 98.7% of their asking price, showing strong demand.

So what’s the bottom line? Raleigh’s market remains competitive, but with more inventory hitting the scene, buyers may finally get some breathing room. If you’re looking to sell, now’s the time to take advantage of rising prices. If you’re buying, keep an eye out—more choices are on the way!