In November, home prices fell substantially from the month before, with a median listing price of $465,000.
The number of listings on the market shrank 5.0% from last month, which is a bigger decrease 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 November. And the most recent data shows that the price per square foot decreased by 0.2% compared with the month before.
So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 1.2%, which means price changes in the City of Oaks are smaller the national market.
Raleigh inventory
In November, there were 1,812 homes for sale in Raleigh, which was 5.0% less than the month before and 26.0% more than the same time last year.
Meanwhile, active inventory across the nation fell by 2.5% from last month to 1,072,266.
Time on market
Homes in Raleigh take an average of 61 days to sell, according to November figures.
This is two days more than the previous month and three days more than the same month last year.
For comparison, nationally homes spent an average of 64 days on the market in November.
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.