This Month in Real Estate

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!