August 2021 Luxury Home Market Report

AUGUST Home of the CLHMS

TM

2021

RALEIGH-DURHAM NO RTH CA R O L I N A www.LuxuryHomeMarketing.com

RALEIGH-DURHAM

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | JULY 2021 Inventory

Sales

Luxury Benchmark Price 1: $760,000 $3,000,000+ $2,600,000 - $2,999,999 $2,350,000 - $2,599,999

$2,100,000 - $2,349,999

12

0

7

1 6

1

$1,500,000 - $1,599,999

$1,200,000 - $1,299,999

Seller's Market

8

Total Sales Ratio2: 104%

11

6 9

5

7

5

$1,400,000 - $1,499,999

$1,300,000 - $1,399,999

Total Sales: 211

3

$1,850,000 - $2,099,999 $1,600,000 - $1,849,999

Total Inventory: 203

8 6

10

11 8

$1,100,000 - $1,199,999

14

19

13

$1,000,000 - $1,099,999

23

17 17

$900,000 - $999,999

42 35

$800,000 - $899,999 $760,000 - $799,999

1

21

64

25

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 1,999

$801,000

3

2

1

7

14%

2,000 - 2,999

$830,000

3

3

14

18

78%

3,000 - 3,999

$852,374

4

4

70

61

115%

4,000 - 4,999

$926,831

5

5

73

44

166%

5,000 - 5,999

$1,225,000

5

6

31

27

115%

6,000+

$1,250,000

5

6

22

46

48%

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

$882,475

$883,500

$895,975

$905,212

390

379

365

349

97

Jul-20

134

Aug-20

300

111

100

Sep-20

$920,000

Oct-20

$923,000

246 99

Nov-20

121

Dec-20

Inventory

$890,000

$900,000

220

216 104

Jan-21

Solds

$943,250

175 86

Feb-21

118

Mar-21

$975,000

$911,000

188 162

174 170

Apr-21

May-21

$935,000

$926,500

235

203 211

180

Jun-21

Jul-21

MEDIAN DATA REVIEW | JULY TOTAL INVENTORY Jul. 2020

Jul. 2021

390

TOTAL SOLDS Jul. 2020

Jul. 2021

203 VARIANCE: -48 %

211 VARIANCE: 118 %

SALE PRICE PER SQFT.

SALE TO LIST PRICE RATIO

Jul. 2020

$

Jul. 2021

213

230 VARIANCE: 8 % $

97

Jul. 2020

Jul. 2021

98.75% 101.58% VARIANCE: 3 %

SALES PRICE Jul. 2020

882k

$

Jul. 2021

927k VARIANCE: 5 % $

DAYS ON MARKET Jul. 2020

Jul. 2021

3

2 VARIANCE: -33 %

RALEIGH-DURHAM MARKET SUMMARY | JULY 2021 • The Raleigh-Durham single-family luxury market is a Seller's Market with a 104% Sales Ratio.

• Homes sold for a median of 101.58% of list price in July 2021.

• The most active price band is $900,000-$999,999, where the sales ratio is 247%.

• The median luxury sales price for single-family homes is $926,500.

• The median days on market for July 2021 was 2 days, down from 3 in July 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