Great news for those thinking of selling their home this summer! The North Raleigh real estate market is doing great! Our real estate agents are here to report on this exciting news!
May 2015 Home Sales | North Raleigh Real Estate
According to the RE/MAXNational Housing Report, home sales in May were greater than in any other May since 2008, while home prices continued to rise. Sales are on a four-month trend in which they were higher than both the previous month and the same month in the previous year.
We've been watching the North Raleigh real estate market for some time now and have noticed that this year, despite a bad winter, is doing great! In fact, it's doing better than last year! Below, you'll find more information about May 2015 home sales, according to the RE/MAXNational Housing Report:
- Completed transactions in May were 8.9 percent higher than in April and 3.5 percent higher than May 2014.
- The median sales price of homes sold has risen for 40 consecutive months.
- The median price was 7.8 percent above the price seen last year at $212,910.
- The average month-over-month increase for the first five months of 2015 has been 3.6 percent.
- Thirty-eight metro areas reported higher sales on a year-over-year basis, with 11 reporting double digit increases in May.
- The average days on market, or the number of days between when a home is first listed in an MLS and a sales contract is signed for all homes sold in May dropped seven days from April to 64, and two days below the average of 66 in last year.
- The inventory of homes for sale increased by 0.4 percent increase from April, the first time back-to-back monthly increases occurred since May and June 2014.
- Supply of inventory in May was 3.6 on a scale where six months indicates a market balanced equally between buyers and sellers.
May 2015 home sales are right in line with April 2015! We reported last month that home sales were higher than they have been in any other month of April since 2008.
It sounds like now might be the best time for you to go ahead and list your home on the North Raleigh real estate market! Things are only expected to get better throughout the summer! To take a look at the previous month's sales visit the links below:
Take a look back at this year’s previous month’s sales, below if you missed them:
Interested in keeping up with the real estate market? Be sure to join us at the end of each month as we will report to you on the state of the current market and how home sales did for the previous month!
If you’re considering selling your home call out agents, today! With rising home prices and spring weather, Roark Premier Team can help you sell your home quickly! Contact us to get started with the selling process!
So what are you waiting for? Call now! Our agents standing by to help you get your home sold during one of the busiest times of the year for real estate!