R AL E I G H D UR H A M NORT H CAROL I N A –November 2020–
www.LuxuryHomeMarketing.com
RALEIGH-DURHAM
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | OCTOBER 2020 Inventory
Sales
Luxury Benchmark Price 1: $539,000 $2,500,000+
19
2
$2,000,000 - $2,499,999 $1,750,000 - $1,999,999
$1,500,000 - $1,749,999 $1,250,000 - $1,499,999
12
4
Total Inventory: 690 21
1
Total Sales: 364 Seller's Market
13
3
Total Sales Ratio2: 53%
46
10
$1,000,000 - $1,249,999
51
20
$900,000 - $999,999
61
18
$800,000 - $899,999
86
36
$750,000 - $799,999
49
25
$700,000 - $749,999
47
36
$650,000 - $699,999
86
38
$625,000 - $649,999
35 27
$600,000 - $624,999
$575,000 - $599,999
37
33 52
35
$539,000 - $574,999
1
68
83
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,999
$565,500
3
2
4
15
27%
2,000 - 2,999
$610,000
4
3
48
96
50%
3,000 - 3,999
$616,000
4
4
167
268
62%
4,000 - 4,999
$752,000
5
5
107
148
72%
5,000 - 5,999
$852,450
5
6
20
82
24%
6,000+
$1,239,950
5
7
18
81
22%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
RALEIGH-DURHAM
SINGLE - FAMILY HOMES
13 - MONTH LUXURY MARKET TREND 4 Median Sales Price
$685,000
$674,384
$649,990
1,093
988
215 Oct-19
836
Nov-19
Dec-19
$675,000
903
834 248
199
$650,000
155 Jan-20
186 Feb-20
Inventory
Solds
$656,250
$652,568
$654,092
$655,000
$654,000
915
945
980
909
844
260
244
Mar-20
Apr-20
May-20
Jun-20
$665,435
$645,000
800
740 395
371
324
234
$675,000
Jul-20
Aug-20
690 365
364
Sep-20
Oct-20
MEDIAN DATA INVENTORY September
October
740
690 VARIANCE: -7 %
SALE PRICE PER SQFT. September
October
178
$
183 VARIANCE: 3 % $
SOLDS September
October
365
364 VARIANCE: 0 %
SALE TO LIST PRICE RATIO September
October
100.00% 100.00% VARIANCE: 0 %
SALES PRICE September
645k
$
October
665k VARIANCE: 3 % $
DAYS ON MARKET September
October
3
2 VARIANCE: -33 %
RALEIGH-DURHAM MARKET SUMMARY | OCTOBER 2020 • The Raleigh-Durham single-family luxury market is a Seller's Market with a 53% Sales Ratio. • Homes sold for a median of 100.00% of list price in October 2020. • The most active price band is $600,000-$624,999, where the sales ratio is 122%. • The median luxury sales price for single-family homes has increased to $665,435. • The median days on market for October 2020 was 2 days, down from 3 in September 2020.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3