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Market Pulse – Raleigh February 2021

by | Feb 28, 2021 | Buying, Raleigh, Selling

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Even with the deep freeze across much of the country and Punxsatawney Phil predicting a longer winter, prospective home buyers and sellers are very active and looking forward to spring. 

All stats below are based on End of Month in December vs January:

Homes on the market – 3,634 vs 3,092 (down 15%)
Average sales price: $352,285
New homes on the market – 2,856 vs 3,542 (up 24%)
Homes sold – 4,195 vs 2,940 (down 30%)

View current market data

It is an extremely competitive seller’s market right now. Buyers will typically swing and miss a couple times before going under contract. Due Diligence fees are having to come in much higher than they were originally. The market really ramped up at the end of January due to fear of interest rates rising. Therefore, there are many more buyers than sellers. It is the perfect time to list your home.

What if I’m a seller?

Even in such a strong seller’s market it’s still very important to price your home properly. If you’re overpriced, your house may sit on the market for a long time. Having a pre-inspection before listing, and taking care of any issues that come up in that, can go a long way for getting better offers with waived inspections. There’s less hassle and risk once you’re actually under contract.

Here are a few blogs that might help you as a seller:

What if I’m a buyer?

Plan to offer more terms than just a good price. Those could be: waived inspection, extra down payment in case of a low appraisal, and making your earnest money non-refundable. All of these things can all help you be the winning offer in a seller’s market where multiple offers per house are definitely the norm. 

Here are a few blogs that might help you as a buyer: 

AWhen you hire Trelora, you pay just 1% to sell your home. You’ll also get best-in-class customer service, and a team of expert agents who close hundreds of deals per year. And keep in mind, especially if you’re moving or you have friends in other states, that Trelora can help you in Atlanta, Charleston, Charlotte, Denver, Los Angeles, Phoenix, Raleigh, Sacramento, Seattle and Tucson. In the meantime, please stay healthy and safe.

Kind regards,

Christina Parker
General Manager
Trelora – Raleigh

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The information contained in this blog is for general information purposes only, and while believed to be accurate, Trelora assumes no legal responsibility for accuracy. Information provided within should not relied upon as legal advice. Please consult with your local advisors for independent information regarding availability and applicability in your market.