Thinking about moving to or selling property in Raleigh, North Carolina? Take a little time to get to know the community better. Understanding the market makes selling your home easier; it’s also a great way to familiarize yourself with the community you may call home.
Understanding the neighborhood where you’ll buy or sell a property is critical. There’s a well-known phrase in the real estate industry: location, location, location. When you’re buying or selling a property, the one thing that can’t be changed is the location. You’ll want to choose wisely. If you’re selling your property, highlighting the benefits of your neighborhood is a great way to attract buyers. If you’re purchasing a house, taking a closer look at the community will help you understand the market and investment potential more clearly.
Need to sell your home fast? Get an offer from Brick, fast!
Whether you’re moving on a deadline or just want to speed up the sales process to move on faster, we can help. We offer:
Fast, fair offers: The average home sits on the market between 25 and 30 days. Once your home is under contract, it can take 45 days to close. At Brick, we’ll make a fair, cash offer within days.
No closing costs: Selling a home can cost several thousand dollars when you factor in realtor fees, closing costs, and repairs. You won’t have any of those expenses when you sell to Brick.
No walkthroughs: Don’t worry about scheduling open houses or walkthroughs. We purchase homes as-is. We also buy properties in any condition.
Close in days: Instead of waiting a month or more to finalize your sale and move on, sell to Brick. Once you accept the cash offer, we can close the deal within days.
Housing Market Trends in Raleigh, North Carolina
Sales prices on homes in Raleigh are up by 25% from 2021. The average sales price for a home in Raleigh, North Carolina, is $390,000. The average home sits on the market for about 33 days. In February of 2021, the average sales price was $310,000, and houses sat on the market for 42 days.
Sales prices have increased significantly in the last five years. The median sales price for a house in Raleigh in February of 2017 was $235,000, and homes stayed on the market for an average of 54 days. The number of sales is comparable to the same time in 2022, though the market is showing some signs of slowing.
Historical sales indicate that more homes are sold between May and August each year, while January and February have lower sales.
Tips for Selling Your Home Fast:
Significant life changes don’t always come at the most convenient times. Selling your home may be a desire, or it might be necessary. Whether you’ve decided to start a new life across the country on a tight deadline or you’re just ready to ditch your investment properties, managing your sale the right way is essential. Check out these helpful articles for navigating the quick sale of your house:
- Need to sell a home quickly to avoid foreclosure?
- When you need to sell your home fast, what are your options?
- How to sell a house that needs work when you don’t want to do it.
Critical Tips for Selling Your Home:
Selling your home(s) can be difficult, but it doesn’t have to feel overwhelming. Taking a few minutes to prepare yourself for the sales process can make a difference when it comes time to part with your house. Here are a few things to consider:
Why are you selling?
Before you list your house or contact us for a cash offer, it helps to know why you’re selling your home. Identifying the why helps with the sales process, including setting expectations for a sales price. It can also help you emotionally process the transaction so that you can let go of your property.
Sellers offloading an inherited property, downsizing, going through retirement, or selling because of a divorce, should consider whether their emotional attachment could make the sales process more difficult. We’ve noticed that buyers who are overly passionate about the sale are more likely to:
- Ignore staging advice
- Overprice the home
- Respond irrationally to lower offers or requests for repairs
- Fail to market to their target audience
If you’re selling because you want to liquidate your investment properties, you may need to consciously withdraw the idea of control over what happens to the property once you sell.
What are your selling needs?
Once you’ve identified why you’re selling and identified ways to emotionally detach from the sales process, it’s time to think about your needs during the sales process. Which of these are concerns you have about your upcoming move?
- Cost of relocation
- Access to equity in your property
- Ability to provide seller financing
- Time to pack and move
- Cost of realtor fees and closing costs
- Cost of repairs
- Finding a buyer to purchase the property as-is
- Desire or ability to manage walkthroughs and appraisals
Many sellers spend as much as 10% of their sales price on repairs, fees, and closing costs. Are you comfortable or able to let go of that money to sell your home on the traditional market? If your home needs extensive repairs, you may need to pay for repairs or make concessions on the sale price. If you’d rather avoid appraisals and negotiating with buyers, selling your home for cash could be better.
Prepare for signing and closing
One of the most anticipated parts of selling a house is signing and closing. This final step makes everything official. The process can be a little different depending on whether you sell your home through the traditional market or with an ibuyer.
If you sell your home on the traditional market, the sale can fall through at any point before closing. Complications with appraisal or funding could delay a sale. In worst-case scenarios, a deal could entirely fall through if a buyer isn’t approved for financing or the lender refuses to fund the loan because the property appraises for less than the offered amount.
You’ll meet with the lender and the buyers during closing and sign paperwork to finalize the sale. Before the final paperwork, your property undergoes an appraisal and inspection. The agent will do a title search, and you’ll complete any repairs or other concessions. Once the closing paperwork is filed, and the title is transferred into the seller’s name, the home is no longer yours.
When you work with an ibuyer, the closing process is different. The process is much faster because there are fewer hoops to jump through. We offer more flexibility for sellers, including the ability to control when you move out. We don’t require inspections or appraisals, and you won’t have to worry about our financing falling through. We can help you sell your home in days instead of weeks.
What does Raleigh have to offer:
Raleigh offers the benefits of a large city and the charm of southern living. Home to several universities and technology institutions, it’s part of what many refer to as the “research triangle.” The city offers access to many amenities and activities that buyers would love to experience.
Technology lovers and bookworms will enjoy what’s said to be one of the most technologically advanced libraries in the world, while art enthusiasts might enjoy exploring the North Carolina Museum of Art. Outdoor lovers can enjoy access to the Mountains-to-Sea trail, a hiking trail that spans more than 1,000 miles. There are shorter and easier bits of the trail at the Wilkerson Nature Preserve.
Some of the most popular attractions in Raleigh, North Carolina, include:
- James B. Hunt Library
- Pullen Park
- North Carolina Museum of Art
- Hemlock Bluff’s Nature Preserve
- Mountains-to-Sea Trail
- Wilkerson Nature Preserve
- Blue Jay Point County Park
- Marbles Kids Museum
- Pope House Museum
- Juniper Level Botanic Garden
- Raleigh Municipal Rose Garden
- Videri Chocolate Factory
- Raleigh Warehouse District
- William B. Umstead State Park
- The City Cemetery
- North Carolina State Capitol
- Historic Yates Mill County Park
- North Carolina State Farmers Public Market
- Prairie Ridge Ecostation
- The Rialto Theatre
- WRAL Azalea Garden
- Lafayette Village
- North Carolina Museum of Natural Sciences
- Optimist Pool
- Koka Booth Amphitheatre
- The University of North Carolina at Chapel Hill
- North Carolina State University
- Duke University