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

$198,100

  • 3.2% 1-year change
  • 3.4% 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 $198,100. Raleigh Metro home values have gone up 3.2% over the past year and Zillow predicts they will rise 3.4% within the next year. The median list price per square foot in Raleigh Metro is None. The median rent price in Raleigh Metro is $1,200, which is higher than the North Carolina median of $1,050.

Foreclosures will be a factor impacting home values in the next several years. In Raleigh Metro 3.2 homes are foreclosed (per 10,000). This is lower than the North Carolina value of 3.8 and also lower than the national value of 3.9

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 4.5%, which is lower than the national value of 6.3%. 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 11.9%, which is lower than North Carolina at 17.1%.

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Relative ZHVI
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Raleigh Metro Market Overview

Data through Apr 30, 2015
  • $198,100 ZHVI
  • 3.4% 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
    (Apr 30, 2016)
  • No data Median listing price
  • $213,100 Median sale price
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Raleigh Metro Market Health

Data through Apr 30, 2015
  • 7.4/10 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.
    (Feb 28, 2015)
  • 82 Average days on Zillow (Mar 31, 2015)
  • 11.9% Homes with negative equity (16.9% US Avg) (Dec 31, 2014)
  • 4.5% Delinquent on mortgage (6.3% US Avg) (Dec 31, 2014)

Homes foreclosed (per 10,000)

3.2 homes Raleigh Metro
3.8 homes North Carolina
3.9 homes United States
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Cities in Raleigh Metro

Name Median ZHVI
Cary $279,600
Apex $256,200
Wake Forest $242,000
Name Median ZHVI
Fuquay Varina $188,600
Raleigh $185,000
Clayton $162,200
Name Median ZHVI
Garner $149,400
Knightdale $142,700
Zebulon $131,500

Listings & Sales

Data through Apr 30, 2015
  • No recent data Median list price / sq ft
  • $114 Median sale price / sq ft
  • No data Listings with price cut
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Raleigh Metro Rentals

Data through Apr 30, 2015
  • Zillow Rent Index

  • $1,355 Raleigh Metro
    $1,127 North Carolina
    $1,364 United States

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

  • 2.2 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Dec 31, 2014)
  • $1,200 Rent list price
  • $0.85 Rent list price / sq ft
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