Spring Market Update: What Raleigh Home Sellers Need to Know Right Now

Welcome to your Invest in Her Real Estate market update! If you’ve been keeping an eye on the news, you might be hearing mixed signals about the spring housing market. To help you separate the headlines from reality, we’re breaking down recent data reported by the Triangle Business Journal so you can approach your sale with confidence and strategy.

Here is the succinct, no-nonsense breakdown of what is happening in the Raleigh area right now.

The Shift: Homes are Taking a Little Longer to Sell

It’s true that the frenzied pace of the last few years is cooling. Nationally, homes are sitting on the market about nine days longer than they did last year. Locally, the shift is more pronounced: Raleigh has seen a year-over-year increase of 30 days on the market, while Durham has seen a 28-day jump.

Broader economic factors and fluctuating mortgage rates have simply given buyers more time to pause and evaluate their options before making an offer.

The Silver Lining: The Sky Isn’t Falling

It is easy to look at “days on market” increases and panic, but a deeper dive into the data reveals a very encouraging picture for sellers:

• Move-in-ready homes still move fast: Nationally, 34% of homes are still selling within just two weeks. The properties on the market the longest are typically overpriced or require more work than buyers are prepared to offer or can afford.
• Profit margins remain historically strong: While we aren’t seeing the record-shattering peak margins of mid-2022, sellers are currently averaging 44.1%. To put that in perspective, a typical “good” profit margin prior to the pandemic was around 30%. You are still in a fantastic historical position to build wealth through your home sale.

The Takeaway for Would-Be Sellers

What does this mean if you are preparing to list in the Triangle this year? It just means we need to lean into the fundamentals of real estate:

1. Price Strategically: The days of pricing a home aspirationally high and expecting a bidding war on day one are largely behind us. Overpriced homes are the ones inflating those “days on market” statistics.
2. Prep to Impress: Because buyers have the luxury of time to be a bit more selective, your home’s presentation matters more than ever.
3. Pack Your Patience: Expect the process to take a few weeks, not a weekend.

At Invest in Her Real Estate, we know how to position your property so it lands in that fast-selling 34%. If you’re curious about what your specific home is worth in today’s shifting Raleigh real estate market, let’s connect and build a winning strategy together: 919-229-9725 or Hello@InvestInHerRealEstate.com.