The most recent real estate figures on Raleigh, North Carolina, originally released on August 23, revealed a slight increase in the median price. Sure, this may come as a surprise – but don’t worry. Raleigh is still a buyer’s market. Let’s take a look at some figures.  

Up slightly from the previous month, the median home price in Raleigh for August was $299,758. However, there are still 3,064 homes on the market in Raleigh right now. With such a substantial inventory, prices of Raleigh homes for sale aren’t likely to increase significantly in the next few months. How is inventory an indicator of future home prices?

"Inventory" is simply real estate lingo for "the number of homes for sale." This stat shows you how much supply is available in the market you are researching. Inventory levels can ebb and flow frequently due to seasonal effects. There's usually more inventory on the market in the springtime, as the natural rate of real estate activity picks up during this time of year. Alternately, there's generally less inventory in the Fall or Winter as real estate activity slows. Okay, so those are the facts…but how does that affect the fluctuation of prices? Quite simply, actually. When activity slows in fall and winter, sellers aren’t likely to raise prices on homes that are already not selling. Makes sense, right?

Are there other statistics available? Sure. The market action index, which illustrates the balance between supply and demand using a statistical function of the current rate of sale versus current inventory, is 13.71 – this is what some experts use to determine, definitively, if an area is in a state of buyer’s market or seller’s market. This specific index indicates a buyer’s market in Raleigh.