Raleigh Metro Real Estate Market Report: September 2024
1163 homes sold for an average sales price of $569,613 (up 2.3% YoY) in Wake County, North Carolina in September 2024.

The market continues to demonstrate no clear direction in the short term. The number of sales was down 224 from August 2024, and 61 fewer homes sold in September 2024 than September 2023.
Contracts written were up 280 in September vs. a year ago, but average list price was down 1.3%.
Showings remain consistent at 18,000 +/- per month, but activity by price range has changed a great deal, with lower-priced homes being shown more often. Overall showings per listing are at their lowest since December 2022.
Parade of Homes traffic has been robust; one agent told me they are getting 400+ a day.
At the end of September, there were 3174 active listings in Wake County, a 2.4-month supply, the highest since December 2022.
What we are paying extra attention to for our clients:
Market velocity varies a great deal by market and price point.
Days on the market remain a stigma for sellers.
Days on the market can be an opportunity for buyers. Many misrepresented homes are underpriced and offer great value.
Price reductions are frequent; homes are on the "hot sheets" today with $200,000.00 in total price reductions. The market has not changed that much, and overall prices are up. Overpricing is a mistake and a lot of inconvenience to the sellers.
We have used appropriate marketing and data-driven market tools to maximize over 5,000 seller experiences.
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