In October, home prices rose moderately from the month before, with a median listing price of $479,950.
The number of listings on the market remained practically unchanged from last month, but it is a smaller increase than normal for this time of the year in Raleigh, and homes are also selling slower than at the same time last year.
Home prices in Raleigh
Typically, home price per square foot in Raleigh tend to fall in October. But the most recent data shows that the price per square foot increased by 0.4% compared with the month before.
So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 0.8%, which means price changes in the City of Oaks are outpacing the national market.
Raleigh inventory
In October, there were 1,909 homes for sale in Raleigh, which was practically unchanged from the month before and 32.1% more than the same time last year.
Meanwhile, active inventory across the nation remained practically unchanged from last month to 1,100,001.
Time on market
Homes in Raleigh take an average of 59 days to sell, according to October figures.
This is one day more than the previous month and seven days more than the same month last year.
For comparison, nationally homes spent an average of 63 days on the market in October.
Use the Realtor.com data portal to get more market data, broken down by state, metro or ZIP code.
* Here’s a live look at popular listings and recent home sales in Raleigh, NC.