2009 Real Estate Guide
real estate
Home price trends in Raleigh, N.C.

City-by-city price comps
Raleigh, N.C.
Prices in the Research Triangle town haven't dropped as much as other cities, but the median price is likely to decline this year as more distressed properties come on the market. Sales activity is expected to be flat. Part of the reason is that relocations will slow as people find difficulty selling their homes elsewhere, according to John Burns Real Estate Consulting.
Median price end of 2008:$230,900
Median price end of 2007:$235,600
Percent change:-2%
Projected change through Q3 2009:-0.6%
Affordability rating:1.1
Foreclosures in 2008:
(1 for every 92 households)
Foreclosures in 2007:
(1 for every 102 households)
Change in foreclosures:14.4%
Expected to hit bottom:Q2 2009
Percent drop needed to reach bottom:-0.5%
Current rate comparison
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Price trends
Q1 2008 national median price: $196,100
Q2 2008 national median price: $206,400
Q3 2008 national median price: $200,400
Q4 2008 national median price: $180,100
Q1 2008 local median price: $228,100
Q2 2008 local median price: $213,200
Q3 2008 local median price: $221,900
Q4 2008 local median price: $230,900

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