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The Raleigh Real Estate Market in 2022

Northeast Raleigh is one of the most desirable zip codes in the country to buy and sell homes. Homes go under contract on average 5 days after they are listed. In this article, Gary Kevin Coats of Raleigh highlights the real estate market in 2022.

Raleigh-Durham was also ranked the #1 large housing market growth in the last year, as more people moved into the area. Based on key criteria like housing market activity, economic vitality, and other factors, Raleigh has also ranked the fourth-best emerging housing market.

Market stats:

  • The median listing price per square foot is $196
  • The median days on the market is 33
  • Raleigh’s sales-to-list ratio is 100%. This means that homes sell for about the asking price.
  • Glenwood is one of the 75 Raleigh neighborhoods with the highest median listing price at $895,000.
  • Raleigh’s home values have increased by 28.8% in the past year.
  • Raleigh’s home values have increased nearly 70% in the last five years.
  • Based on the most recent research by Realtor.com (November 2021), Raleigh’s median listing price is $379,000
  • Triangle Town Center is the most affordable place to buy a Raleigh home. The median listing price for a Raleigh home is $282,500.
  • As of December 2021, Zillow Home Value Index ( ZHVI), Raleigh’s price is $396232

Attractive renters’ market

Many companies have listed Raleigh as one of America’s best cities for renting. This is based on key metrics like rent-to-price ratio and historical rental-price fluctuations. Nearly half of Raleigh’s households are occupied by renters. Rents have increased 11% annually.

Market stats:

  • The average Raleigh rent for a 3-bedroom apartment has increased by 25% over the last three years.
  • Raleigh’s 49% renter-occupied housing units make up the majority of all the occupied housing units within the metro area.
  • According to the latest report by Zumper (December 2002), Raleigh’s median rent is $1,755 per month for a 3-bedroom house.
  • Renters in Raleigh will find the most affordable areas in Bedford at Falls River and King Charles. The average rent is less than $1,670 per month.
  • Oakwood, Brier Creek Country Club and Hedingham are the most expensive areas to rent in Raleigh. Rents there range from $1,800 to $2,295 per monthly.
  • Raleigh rents have increased 11% over the past year.

Ready to invest in the Raleigh market? Contact Gary Kevin Coats today to learn more.

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