March Market Update Raleigh North Carolina

[Benjamin Carver]

Heading into April 2025, here is where the Raleigh real estate market stands and its impact on investors:

Key thing to point out, median sales price is up 9.6% year over year! Appreciation continues to be strong. And this is pulled directly from the local MLS.

Future Appreciation:

This is anyone's guess, but here's what I do know.

According to Census data... Between 2022 and 2023, Raleigh's population increased by 1.9%, making it the third fastest-growing big city.

Realtor.com anticipates a 9% increase in median home prices this year with only a 2% increase in volume.

How Competitive is Raleigh right now?

Interestingly enough, our month's supply is up 35% YOY and right near that average for last year, so there are lower prices and more options right now.

Homes go for right around 96.8% of original list price (a 1.4% decrease YOY), and sit for 2 weeks longer than last year's average. These are signs that Raleigh's market is somewhat stabilizing. Buyers get more negotiation power, have better luck getting credits or repairs, and have better odds at making a deal work.

How are Rents?
Raleigh-wide the median rent is $1850 across all property types. This number is flat with the median rent for the previous 12 months. Not great.

According to airdna.co STR rents keep climbing on the other hand, up 8%

This is why I've been focusing more on STR/MTR and other creative real estate investing strategies that give me higher cashflow. But cash buyers are still doing just fine buying strong-appreciation properties in prime locations for buy and hold.

Hope this data is helpful in your research and investing!