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Lee & Pamela St. Peter Your Raleigh NC Realtors ~ GRI, CRS, ABR

Just who IS moving to the Raleigh NC area and where are they coming from?

If you have followed my previous posts you know I'm a stickler on how showings are going. No market can improve if there isn't a healthy showing market. So let's look at what is happening in Raleigh;

Monthly showings in the Raleigh Real Estate Market


Now that's a nice graph - one I like to see! Showings are definitly on the incline! And below you'll see just which price points are getting all the attention;

Price points in Raleigh NC real estate market


Take a look at which subdivisions are sizzling around here with the most closed transactions....

top Wake County selling subdivisions

I'm always intrigued by the numerous inquiries we receive from all over requesting more information about the Raleigh Wake county area. So I thought I would see if I couldn't find some details. The chart below is from a company called ListHub. They capture visitors from sites like Zillow, Trulia, Yahoo! Real Estate and the like. Below you'll see the states that made top 11 referral states... They also capture inquiries from different channels like HotPad, Google Base, Yahoo, and Oodle. Oodle provided the most inquiries by channel for our Triangle Multiple Listing Service (TMLS)

states sending the most people to Raleigh NC

I know it doesn't show but we have had multiple clients from other states as well but I guess they didn't show up high enough on the captures or inquiries to get on the list.

So no matter where you are in your plans include a move to the wonderful Raleigh Triangle area let us know and we'd be please to send you our free relocation package. Or even better how about starting to receive FREE e-mails containing only the Triangle Real Estate listings specifically set up to match YOUR needs?

In any event - we're here. So drop us a note or call - we'd love to chat!

Wake County Real Estate Report for May 2009

Statistics are out for the Wake county area which includes Apex, Cary, Fuquay Varina, Garner, Holly Springs, Raleigh, Wake Forest areas.

The chart below shows very clearly where and what the appreciation values were for the various areas in the past 6 years.

May Statistics for Wake County areas

Chart below compares just how our market did this year over last - showing all sales (re-sales, new construction, condo's and townhomes). Remember that these are averages...

Wake sales comparison

Thanks to Stacey Andfindsen for some very interesting tidbits about our market here in Wake County. Here's a recap of his findings:

  • There are +/-8,700 active Wake County listings. 188 are marked as short sales and 110 are marked as foreclosure
  • 96% of Wake County sales w/in the past 13 months were non-foreclosure
  • If you bought your home in 2003 or 2004 and sold it in the last 13 months your gain is the highest +3.87%. But if you bought in 2008 and sold within the same period your averaged a (loss) –1.2%.
  • In May of of 2007 in Wake county the average listing was 6.97% per year above prior purchase price as opposed to the average now of 4.37%. 40% of resales occurring during the first 5 months of the year did not reduce their original sale price and sold in an average of 42 days for 96% of list. Those agent/sellers who struggled with initial list price paid a price. Re-sale houses where final list price was less than original list price sold in an average of 114 days at 96% of final list and 87% of original list.
  • Those resales where the original sales price was dropped sold in an average of 114 days at 87% of original list. OUCH!
  • Just over 3,400 (39% of total) of Wake County sellers have dropped price from original list with the average price drop around 7%
  • Average 1Q/09 sales price of a new home closed in TMLS increased 2% to $310,000
  • Average 1Q/09 sales price in Cary/Apex/Morrisville increased 4%

So there you have it - The Good - The Bad - and The not so Ugly recap of our Raleigh Market.


Previous Market & Real Estate reports;

Cary Apex Morrisville NC Market Report
Wake County Final Market Report for May 2009
Raleigh NC (Wake County) April Market Report
Cary NC April Market Report
Raleigh NC (Wake County) February Market Report
Raleigh NC (Wake County) January Market Report

Wake County (Raleigh NC) Final Market Report for May 2009

Time to look at the Real Estate statistics for Wake County for the month of May. Below are the final numbers for detached homes as reported in our Triangle Multiple Listing Service.

Active Detached homes

Wake detached

Total detachted homes under contract in May

Wake pending sales in May

Total homes closed in May

Wake County closed in may

These numbers actually improved since our last Wake County Market report we did earlier in the month (3rd week in May). But the real improvement is over last month - April Wake County Market Report with inventory down, and pendings and sales up.

Here's a map to better understand exactly what Wake County includes; towns like Cary, Apex, Morrisville ( or CAM as they are sometimes referred to), as well as Raleigh, Wake Forest, and south to Holly Springs, Fuquay Varina, and even some parts of Clayton.

Wake County area

So if you're considering buying or selling in Wake County - give us a call. We'd love to chat.

Raleigh NC (Wake County) February Market Report

Raleigh NC (Wake County) January Market Report

Partial Roof collapse at Conagra Plant in Garner NC


More late breaking news on the Garner ConAgra accident - WRAL coverage

Latest information is there have been 32 people taken to 5 area hospitals. 2 people are being treated with life threatening injuries one at UNC Hospital and one at Duke.

There are still 2 people unaccounted for. There were 300 people at work there today.

ConAgra Plant in Garner NC

Cary Apex Morrisville (CAM area) NC Market Report for May 2009

Cary Apex Morrisville (CAM area) NC Market Report for May 2009

Market reports coming in from various places around the US seem to be showing improvements. We're all looking for that to continue as we head into the summer months. According to The National Association of Home Builders half of all U.S. households (55 million to be exact) can now afford to buy the median priced $200,000 new home. That's up 45 percent in the past 24 months.

This report will bring you up to date information on what is happening in the Cary, Apex, Morrisville areas of Raleigh NC. for all detached homes as reported in the Triangle Multiple Listing Service (TMLS).

Inventory grew according to Stacey Anfindson by 4% in Apex, 3% in Cary and decreased by 8% in Morrisville.

Now the average prices are falling too - Apex -9%, Cary -7%, and Morrisville -3%. And Stacey goes on to say " The market has changed dramatically comparing 1Q/08 with 1Q/09. During the first quarter of 2008, the average seller accepted offers that were +/-3% off of original list price. During the first quarter of this year, the average seller accepted offers that were +/-8% off of original list price. In listings where the final list price was equal to the original list price, the average days on market was between 30 and 52. In listings where the final list price was less than the original list price, the average days on market was between 115 and 138.

Here's how things shook out for May

Active listings for detached homes

detached homes

detached homes

Below is the report from CSS (Centralized showing service) indicating the total number of showings for all of the TMLS area (Triangle Multiple Listing Service) for April's showings

Monthly showings for all of our TMLS

The following chart will highlight the most sizzling subdivisions in the Cary, Apex, Morrisville area

top selling Subdivision in CAM

chart courtesy of Stacey Anfindson

We'll continue to watch as the month of June usually brings a lot of activity in our market. Weather is great - kids are out of school and it's a perfect time to house hunt. And with the 1st time home buyers $8,000 tax credit and the MCC additional $2,000 things could get rather busy...