January 2025 SW Raleigh Real Estate Market Update

January-2025

SW Raleigh Real Estate Market Update: January 2025

It’s time for the January 2025 real estate market update in SW Raleigh! This update offers insights into the local housing trends, breaking it down to the most essential components, no matter where you’re shopping for houses in the SW Raleigh area. Let’s dive into the details and explore how these insights shape today’s market.

Median Prices 

The median home prices in SW Raleigh towns reveal notable differences across the area. 

Here is an overview of the median prices per town within the SW Raleigh area:

  • Morrisville – $601,300
  • Cary – $605,000
  • Apex – $583,000
  • Holly Springs – $624,000
  • Fuquay Varina – $470,690

The variety in home prices shows how supply and demand differ in each town. Interestingly, sales are evenly split above and below the median prices, which means there’s a good mix of activity from buyers. No matter where you’re looking in SW Raleigh, there are plenty of opportunities to find the right home.

Months of Inventory

The amount of available homes, measured in months of supply, shows that SW Raleigh is still a strong seller’s market. Cary, Apex, and Holly Springs have very limited inventory, with just 1.4 to 1.8 months of supply. Fuquay Varina has a bit more at 2.3 months, and Morrisville has the most at 3.4 months, closer to a balanced market but still favors sellers.

A balanced market typically has 4-6 months of supply, so these low numbers mean the market is still very competitive. Buyers need to act fast, while sellers enjoy the advantage of high demand and limited options for buyers.

List to Sales Price

Price cuts have been common in this market, with many homes being reduced before selling. Around 27% of homes in Morrisville and over 50% in Cary, Holly Springs, and Fuquay Varina saw price drops. This shows sellers adjust their asking prices to match buyers’ willingness to pay better.

Even with these reductions, homes are still selling close to their final list prices—about 98% to 99%. In some cases, price cuts spark more interest, leading to multiple offers that can push the final price above the adjusted list price. Pricing a home strategically is key to attracting buyers and getting the best possible deal.

Average Days on the Market

Homes are staying on the market for different amounts of time, from 19 days in Apex to 51 days in Morrisville. Things slowed down during the holidays in December, but buyer interest has picked up again in January. Houses are selling quickly overall, with Cary and Apex seeing the fastest sales.

Conclusion

The SW Raleigh real estate market is off to a busy and competitive start in January 2025. With a mix of price ranges, limited inventory, and shifting price strategies, it’s an excellent time for sellers and an exciting challenge for buyers who plan carefully. Knowing what’s happening in the market will help you make smart and confident decisions about buying or selling.

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