December, 2012
Wondering what happened in the world of Real Estate in December? Watch below to learn the latest market numbers and what motivates a seller to sell their home.
If you prefer the Cliff’s Notes version, here you go!
The Numbers:
- Annual projected home sales are 4.8 Million
- Median Home Price is $179,000 which is up 11.1% from last year at this time
- Average 30-year Fixed Mortgage Rate fell again to 3.34%
What Motivates a Seller to Sell?
- Wanting to upgrade their home – a better home or a better neighborhood
- Work relocation
- Change in family status
What are we seeing in Raleigh?
- The median home sales price was $187,000 (from Sept ’12 – Nov ’12) which is up 1.6% from the same period last year.
- The average list price was $311,558 (for week ending Dec 5, 2012) which is down 1.1% from the same week last year.
- Popular neighborhoods include North Raleigh and Northeast Raleigh. The average listing prices are $324,070 and $161,837 respectively.
Give us a call for market information for your specific area!