2022 is already looking up for Raleigh, NC, as the city’s real estate market continues to see record highs in the new year! According to an analysis from Zillow, home values are forecasted to soar nearly 24% in the city’s real estate market, causing current average prices of $391,444 to exceed well over $450,000. The predictions from Zillow are based on:
Forecasted home value growth
A thriving job market
Relative scarcity within markets
Demographics that indicate a good number of potential buyers
In the Triangle region, especially Wake County, prices are already skyrocketing. In November 2021, the median sales price was $369,000, up from the median sales price of $365,000 that October, based on the latest reports from Triangle Multiple Listing Service. Wake County saw record high median sales prices of $405,000 in November, according to an analysis of public records conducted by the Wake County Register of Deeds.
The Zillow analysis predicts that only Tampa, Fla, and Jacksonville, Fla, will reach higher home values through November 2022.
If you’re looking to buy in one of the hottest housing markets in the country, get in touch with us at BOLD Real Estate. We would love to show you around and give you expert insight into buying a home in the Triangle. Call us at 919.883.5500 to get connected!