In August, home prices fell moderately from the month before, with a median listing price of $475,000.
The number of listings on the market remained practically unchanged from last month, but it is a bigger decrease than normal for this time of the year in Raleigh, and homes are also selling slower than at the same time last year.
Home prices in Raleigh
Typically, home price per square foot in Raleigh tend to rise in August. But the most recent data shows that the price per square foot decreased by 1.8% compared with the month before.
So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 1.2%, which means price changes in the City of Oaks are larger the national market.
Raleigh inventory
In August, there were 1,849 homes for sale in Raleigh, which was 0.8% less than the month before and 42.4% more than the same time last year…