There’s been a buzzing trend in the Raleigh real estate market that we recently discussed in our video, and it’s one that may surprise you.
Key Insights:
- Out-of-State Interest: A recent Axios article highlights that out-of-state buyers, espescially from places like New York, Atlanta, Washington DC, and Miami, are showing a rising interest in Raleigh’s listings. The major pull? Affordability and booming job markets in Raleigh.
- Charlotte’s Curiosity: A staggering 36% of the Zillow page views on Raleigh real estate are coming from Charlotte. Are they envious or merely exploring options?
- Economic Migration: With the post-pandemic wave, the Triangle is witnessing a shift in demographics. Many who left Raleigh for bustling cities post-college are now returning, equipped with high salaries and an aspiration for a better quality of life.
- Wealthiest Zip Codes: Triangle Business Journal cites 27562 (New Hill) as a rapidly growing community, topping the list of wealthiest zip codes with a median age of 36. Other areas like the Five Points region of Raleigh and Holly Springs are also attracting young professionals and families.
- Job Gains vs. Home Prices: North Carolina has seen a 7% increase in jobs since March 2020, and an astonishing 51% increase in home prices. The interplay between job growth and the rise in real estate prices can’t be ignored.
What’s Next?
There’s a whirlwind of change happening in the real estate landscape of Raleigh. While it’s hard to predict exactly where this trajectory will take us, current trends hint at continued growth. For more detailed insights, watch our full discussion in the video below. And keep an eye out for future impacts on taxes, insurance, and housing prices in Wake County by subscribing to our Youtube Channel.