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Raleigh Market Ending April 25, 2020

Raleigh Single Family Detached Showings Showings slightly decreased in Raleigh last week. Wake County, NC contracts have been rising weekly: Week ending 4/4 330, week ending 4/11 374, week ending 4/18 381 and week ending 4/25 421. Lower priced homes, under $450,000.00, are still moving at a very brisk pace and inventory is brutally low. The upper end market is sketchy and very segmented. I was showing homes this weekend and spoke to an onsite agent who told us "we are not in a housing crisis and everything is great". When we left my client asked me "crisis? what is she talking about?" We pulled velocity in her development and they have had 8 total showings in five weeks (four were me). Two take aways, make sure onsite agents have proper talking points, there are some developments that relied on the market selling for them that need professional help. Two things that stuck out in last weeks higher end contracts: 25% of contracts were to be built homes (two developments had multiple) the other was two of the higher price sales were remodeled classic country club homes. People are going for custom, luxury and familiarity. Want market details as they pertain to your home or inventory? Let's connect. #realestate #raleighrealestate #caryrealestate #wakecountybuilders

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