Raleigh, NC - Absorbtion Rate - Home Many Homes on the Market Today 7-14-2008

Many People want to know what the market is doing the Raleigh NC area. Here are the stats right from the MLS. The Raleigh market is one of the best markets in the country, however, buyer confidence is still down. I think is uncessarily so, but here are the facts based on the past 2.5 months (May 1, 2008 - July 14, 2008). The market is perfect for buyers and the stats below show this very well.

This chart describes the fact that if no more homes come on the market, and the homes currently on the market sell at the current pace of 452+ home per month, it will take 9 months to sell all of the current homes on the market. There are still programs out there for buyers to buy.

This chart shows that sellers must be aware of their price and the quality of their home. Right now Price is King. Overpriced homes will sit on the market, but correctly priced homes that have been well taken care of will move quickly. We still have homes going undercontract in 2-3, 4,5,7 days. But we also have homes on the market for 6-12 months.