The Raleigh real estate market remains favorable primarily for sellers, but recent numbers show some signs of change. While pricing remains strong in many areas, some towns are experiencing more price reductions and longer days on market. Here’s a closer look at what’s happening in Morrisville, Cary, Apex, Holly Springs, and Fuquay Varina.

Morrisville

The combined median price in Morrisville is $521,500. It currently has a 4-month housing supply, making it the closest to a balanced market among these towns. About 27 percent of listings saw price reductions. On average, homes sold for 97.7 percent of their list price. Sales performance includes 23 percent of homes selling for over the list price, 12 percent at the list price, and 65 percent below the list price. Homes are staying on the market 10 days longer than they did in the previous month.

Cary

Cary continues to attract buyers with a combined median price of $637,500 and 2.2 months of inventory. About 26 percent of homes saw price reductions. The average sold price is 98.1% of the list price. In terms of pricing strategy, 31 percent of homes sold above the list price, 22 percent at the list price, and 47 percent below. Homes are taking about 12 days to sell, which is longer than the previous month.

Apex

Apex reports a combined median price of $655,000 and a 2.3-month supply. Around 27 percent of homes experienced price cuts. On average, homes sold for 98.8 percent of the list price. Compared to last month, performance improved slightly, with 36 percent of homes selling over list price, 20 percent at list price, and 44 percent under list price. Homes are on the market for about 9 days, a slight increase from the previous month.

Holly Springs

The combined median price in Holly Springs is $640,000. It has 2 months of inventory, and 32 percent of listings saw price reductions. Homes sold for an average of 98.3 percent of their list price. However, the market has slowed slightly, with 26 percent of homes selling for over the list price, 23 percent at the list price, and 51 percent under the list price. Homes are selling faster than they did last month, with an average of 8 days on the market.

Fuquay Varina

Fuquay Varina is the most affordable in this group, with a combined median price of $415,000. There is a 2.5-month supply, and 41 percent of homes have had price reductions. The average sale price is 96.7% of the list price. While 22 percent sold over list price and 17 percent at list, 61 percent sold under list price. Homes here are staying on the market for 33 days, a significant jump from last month.

Conclusion

Although the overall Raleigh real estate market remains a seller’s market, conditions vary widely by town. Price trends, days on market, and buyer behavior are shifting in different ways. Understanding these local changes is essential whether you're planning to buy or sell.