Raleigh Market Reports - How is the Housing Market in Raleigh?
North Raleigh New Home Listings DOWN 32%
New Home Showings UP 23% to September
Looking for a new home in the Falls Lake area? Thinking the choices have gotten a little thinner? You're right....
New Home inventory in North Raleigh NC was down 32% in November 2009 versus November 2008. And North Raleigh continues to be one of the most sought after areas of the Triangle, with land and home values that have risen accordingly.
New Home Listings by Price Point in North Raleigh NC
There were fewer new home listings in North Raleigh NC in nearly every price point.
- $400 to $499K homes saw a slight increase, from 13 to 14 homes listed.
North Raleigh remains one of the most popular (and valuable) areas in the Triangle.
- New homes under $400K reduced from 13 listings last year to only 11 listings this year.
- Available inventory in the $500-599K point in North Raleigh was down 31%, from 52 to 36 listings.
- Available inventory in the $600-699K point in North Raleigh was down 35%, from 78 to 51 listings.
The luxury market continues to struggle with a high months of supply, but new homes under $400K are very hard to find and have a very low months of supply.
Overall New Home Listings in North Raleigh NC November 2009
On December 1 2008, there were 363 new homes listed in North Raleigh NC.
On December 1 2009, there were only 247 new homes listed in North Raleigh NC.
This is another 8% reduction in new home inventory levels from two months previous.
Builders are building fewer "speculative" homes, and more home buyers are opting for completely custom packages, in every price point (which means the homes are not listed, but completed to the buyers exact specifications).
What Price Points are getting the most showings in North Raleigh?
If you're looking to purchase in these price points, you'll have more competition for your new home.
Which price points are most popular in North Raleigh?
- North Raleigh new homes in the $600-799K price range saw the most showings in November 2009.
- North Raleigh new homes in the $500-599K price range followed closely.
- North Raleigh new homes under $400K saw TWICE THE AVERAGE number of showings per home - not many listings in this range.
Overall, showings were UP 23% to September 2009, in a month that usually sees decreased activity.
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Most Up-to-Date Raleigh Market Reports - How is the Housing Market in Raleigh?
Finding Your New Home in the Raleigh Area
Stanton Homes makes it easy! We'll guide you through the entire process - select from thousands of different floor plans, and hundreds of different locations, with a focus on new custom homes in the upper $100s to the $500s. Custom design build options available too!
Call 919-278-8070 or visit www.StantonHomes.com to find out more about new homes in the Raleigh area today.
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Articles copyright Stanton Homes 2006-2011. Unauthorized use is not permitted. Provided for informational purposes only, no claims are made by Stanton Homes regarding the validity of any statements. Please note: all listing information per MLS, and current as of posting date. Information subject to change. Stanton Homes does not make claims to ownership of any lot listings, but can work with homebuyers to purchase available lots and build. Home plans to be approved on an individual basis, subject to neighborhood restrictive covenants and lot restrictions. Ask for further information regarding any community, lot or floor plan. Photos represent typical homes and details of each neighborhood, to help highlight different options available in the Raleigh/Triangle area. No claim of ownership is made to homes or land pictured.
Very nice report. Thanks for sharing. Best wishes for continued success. Happy New Year!