Raleigh-Durham Luxury Home Report November 2020

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