Like its neighbor Charlotte, there is a recent report on homes sold in Raleigh, NC, the proud capital of the Tarheel State. In fact, the most recent figures on Raleigh were recorded as closely as the first week of August. Still, the report on market conditions in Raleigh can be considered a wrap-up of sales figures from July. What does it reveal?

To start: Of the 4,386 Raleigh homes listed in July, 48 of those were new home listings. While the median price of the total homes for sale was $239,900, the median on new homes was $291,900. Because this is not too significant of a price increase, buyers interested in Raleigh’s new home market can count this to their advantage; after all, it pays to at least look at some brand new homes, especially when the price is only slightly higher than their older contemporaries. Whether you fall in love with an older home in an established neighborhood, or a new model within a planned community, it’s virtually a level playing field in Raleigh.   

Of course, foreclosures often prove to be exciting prospects as well. There were 823 foreclosed properties on the Raleigh market as of August 3; the median price of this selection was $130,919. Again, this reflects a pretty good buyer’s market; but when one considers the predictions circling that prices may not drop much further, prospective owners should be motivated to act while things look as good as they do. New home, older home, bank-owned or not, Raleigh offers some appealing deals right now.