Get the Facts: 2012 Raleigh Real Estate Recap

2012 Raleigh Real Estate RecapThe most significant Raleigh real estate market report of the year – presenting the full 2012 year end Raleigh, NC real estate recap!

Raleigh real estate is what we know and love, while 2012 had ups and downs in real estate around the country, in Raleigh, North Carolina we experienced stability and steady progress.

2012 Raleigh Real Estate Recap

The pie chart shows the breakdown of:

  • new active listings (homes that went on the market)
  • total active listings
  • closed listings
  • homes that have gone under contract

during the whole of 2012 for single family detached homes located within Raleigh, NC.

The “1% Active” is a tad confusing.  These listings include only those Raleigh homes that entered the MLS as a for sale home before January 2012, and sat on the market through the duration of the year (a high % would be alarming).

While the pie chart is a little arbitrary by itself, we include it to help paint the full picture for the stats below.

New listings – Raleigh Real Estate Market in 2012

2012 Raleigh Real Estate Recap - New Active Homes

The “New Active Listings” with 1,327 homes represent the number of Raleigh real estate listings that came on the market in 2012 and haven’t yet gone under contract or sold.  This includes homes that were listed in Raleigh anytime between Jan. 1st and Dec. 31st 2012.

Take a peak at the new Raleigh NC Homes for Sale on the market in December (in alphabetical order by subdivisions).

Active Detached Homes Available at the End of 2012

2012 Raleigh Real Estate Recap - Active at the end of 2012

“Active Listings” include new listings to the Raleigh market in 2012.  To get the number of homes listed before Jan. 1st 2012 we subtract new active from active which gives us:  91 homes in Raleigh that have been listed for over a 1 year period.  This signifies only 1% of the total Raleigh real estate market which is a pretty healthy number.

With just under 1,500 homes for sale ranging from $39,000 to $4,500,000 with an average price of a home for sale in Raleigh being $359,001 we have affordable living available in one of the greatest cities in America (more on that in our collection of  Triangle area accolades).

Homes in Raleigh: Under Contract at 2012 Year End

2012 Raleigh Real Estate Recap - Homes pending at the end of the year

At the end of 2012 there were 714 homes under contract, or in the “pending” status in Raleigh, NC.

Homes that sold (closed) in Raleigh in 2012

2012 Raleigh Real Estate Recap - Homes Closed During 2012

Here’s the big one:  A total of 4,394 single family detached homes were recorded in the TMLS to have sold in Raleigh in 2012.  The average sales price was $276,168 (slightly higher than the Wake County average) at $110.89 per square foot, closing at a healthy 97% of sales to list price and sitting an average of 117 days (just under 4 months) on the market.

There’s a lot of great information above to get a good overview of Raleigh real estate in 2012.  Need more information?  Let us know!

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*Any reference to TMLS data is based on information from Triangle MLS, which neither guarantees nor is in any way responsible for its accuracy. All data is provided ‘AS IS’ and with all faults. Data maintained by Triangle MLS may not reflect all real estate activity in the market.

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Want to know more about Raleigh, NC?  Check out our all about Raleigh, NC webpage.

 

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