Raleigh Real Estate Market: America’s Most Competitive Triangular Real Estate Market


RALEIGH, NC (WTVD) – A turbocharged Triangle housing market continues a streak of activity with rising house prices.

According to Zillow, Raleigh homes sell in just four days. The site ranks Raleigh second in the United States for the fewest days a home is officially listed on the market.

That’s how long a North Raleigh home had been for sale before Aubrey McCarn and her husband bought it this month. They had looked at the house before it went into service while browsing the market as first-time buyers.

“We saw three properties and we bid on two of them,” said McCarn, 25. The news and the watcher. “The first one we bid on, they only ended up showing it for one day because they had 20 showings and 15 deals in one day. And then this one sold out, I think, $ 40,000 above the asking price. “

According to Zillow home value data, the average price of a home in Raleigh is around $ 333,255.

That’s not far from the average US home price of $ 350,000, an all-time high.

“With the current market, having to offer at least $ 10,000 (above asking price) and doing your due diligence before having the home inspected is a little scary,” McCarn said.

According to Charlotte’s mortgage site LendingTree, Raleigh is the third most competitive market in the United States, due to the share of its buyers with credit scores above 700, putting 20% ​​or more down and shopping for a mortgage before looking for a home.

READ THE FULL ARTICLE HERE

Copyright © 2021 WTVD-TV. All rights reserved.

Leave a Reply

Your email address will not be published.