Raleigh, NC - Local Housing Data - Summary

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Raleigh, Cary, NC

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Raleigh, NC Local News

  • Top 10 States for New Residential Sales

    New home sales dropped significantly in June; a decline of 11% since the beginning of the year. Metrostudy chief economist Brad Hunter comments on the New Residential Sales data release today from Census and market strength in the top 10 states for new home sales in 2014, despite overall low...

  • Local Liability: How Far Can Design Stretch a Neighborhood's 'Look'

    New York Times contributor Allison Arieff reports on a bitter fight in the Oakwood section of Raleigh, North Carolina, over how a neighborhood--and its homes--should look from the street.

  • 1Q14 Raleigh Housing Market Analysis

    The first-quarter Metrostudy data for the Raleigh-Cary, North Carolina market shows an increase in new-home sales and shortage in Vacant Developed Lots that will continue to drive up prices in a high demand area.

Freshest Numbers For Raleigh Show New Home Closings and Prices Increase

Posted on: Jul 06, 2014 07:30:08 AM

In the Raleigh, NC market, new home closings grew year-over-year in April, but as the percentage increased less than March 2014, the market seemed to show signs of leveling. There was a 14.2% rise in new home closings from a year earlier. This was after the housing market saw a 19.3% rise year-over-year in March.

A total of 6,128 new homes were sold during the 12 months that ended in April, up from 6,063 for the year that ended in March.

As a percentage of overall housing closings, new home closings made up 22.9%. This is a rise from 18.6% of closings a year earlier. Following a year-over-year increase in March, closings of new and existing homes slid year-over-year in April.

Pricing and Mortgage Trends

For newly sold homes, the average price jumped 10.3% year-over-year in April to $326,843 per unit. This surge is better than the 7.6% boost in March year-over-year.

The average mortgage size on newly sold homes jumped year-over-year along with the average price of new homes. In April 2014, the average mortgage size was $267,687, a 7.3% surge from a year earlier. In March 2014, average mortgage size climbed 7.3% from a year earlier.

 
 
 

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