Home Values

Raleigh Metro Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$194,700

  • 4.2% 1-year change
  • 2.9% 1-year forecast

Market Temperature

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this metro relative to other metros across the US. A particular metro may be identified as a good market for buyers in a national market favorable to sellers overall. Learn more

Hot

Buyers' Market
Sellers' Market

The median home value in Raleigh Metro is $194,700. Raleigh Metro home values have gone up 4.2% over the past year and Zillow predicts they will rise 2.9% within the next year. The median list price per square foot in Raleigh Metro is $113, which is higher than the North Carolina average of $106. The median price of homes currently listed in Raleigh Metro is $244,900 while the median price of homes that sold is $211,625. The median rent price in Raleigh Metro is $1,200, which is higher than the North Carolina median of $995.

Foreclosures will be a factor impacting home values in the next several years. In Raleigh Metro 4.1 homes are foreclosed (per 10,000). This is lower than the North Carolina value of 4.8 and also lower than the national value of 4.5

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Raleigh Metro is 4.8%, which is lower than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Raleigh Metro homeowners underwater on their mortgage is 11.3%, which is lower than North Carolina at 15.6%.

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Relative ZHVI
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Raleigh Metro Market Overview

Data through Oct 31, 2014
  • $194,700 ZHVI
  • 2.9% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Oct 31, 2015)
  • $244,900 Median listing price
  • $211,625 Median sale price
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Raleigh Metro Market Health

Data through Oct 31, 2014
  • 5.6/10 Healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • 82 Average days on Zillow (Sep 30, 2014)
  • 11.3% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 4.8% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

4.1 homes Raleigh Metro
4.8 homes North Carolina
4.5 homes United States
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Cities in Raleigh Metro

Name Median ZHVI
Cary $288,900
Apex $264,700
Wake Forest $250,400
Name Median ZHVI
Fuquay Varina $194,100
Raleigh $190,000
Clayton $165,600
Name Median ZHVI
Garner $151,700
Knightdale $144,100
Zebulon $135,200

Listings & Sales

Data through Oct 31, 2014
  • $113 Median list price / sq ft
  • $111 Median sale price / sq ft
  • 34.4% Listings with price cut
21.8%
Sold below listing
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Raleigh Metro Rentals

Data through Oct 31, 2014
  • Zillow Rent Index

  • $1,314 Raleigh Metro
    $1,093 North Carolina
    $1,337 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 1.9 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,200 Rent list price
  • $0.80 Rent list price / sq ft
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