The Raleigh luxury market continues to show resilience, even as national trends shift toward increased inventory and slower sales. While some parts of the country see price adjustments and longer days on market, Cary, Apex, Holly Springs, and Raleigh each tell a unique story about how luxury homes are performing in the Triangle.
Raleigh Luxury Real Estate Market Update
Cary Luxury Real Estate Market
Cary’s luxury market, with homes priced over $750,000, is showing signs of moving toward balance. The median sales price is $1,011,493, up 0.2% from last year and 2.6% from last month. Closed sales reached 66, a 106.3% increase from last year, though down from the previous month. Homes are taking longer to sell at 13 days on market, but active listings rose to 145, 57% higher year-over-year. With 2.1 months of supply, buyers have more options, especially for homes that need updates or are priced too high.
Apex Luxury Real Estate Market
In contrast to national softening, Apex remains a hot spot. The median sales price is $928,830, up 5% year-over-year and 2.8% month-over-month. Closed sales rose 15.6% to 52, and homes are selling quickly, averaging just 4 days on the market—a 30% decrease from last year. Inventory surged to 118 active listings, up 136% from last year, but the months of supply remain low at 2.2, keeping this a seller’s market.
Holly Springs Luxury Real Estate Market
Holly Springs is smaller but rapidly growing in the luxury segment. The median sales price stands at $880,750, up 1.8% from last year. Homes spend an average of 9 days on the market, nearly half the time compared to last year, although up from last month. Active listings rose to 55, and the months of supply sit at 2. With 28 closed sales—up 33.3%—buyers are active, though more selective.
Raleigh Luxury Real Estate Market
The Raleigh luxury market shows more alignment with national trends. The median sales price is $995,000, down 11.6% year-over-year. However, 155 homes sold, up 13.1% from last year. Days on market dropped to 10, a 41.2% decrease, with 528 active listings and 3.4 months of supply. This indicates a market heading toward balance, offering buyers more negotiating power.
Final Thoughts & Insights
While national luxury housing markets stabilize, the Triangle area remains notably resilient. Apex and Cary see rising prices, Holly Springs is thriving with rapid growth, and Raleigh edges toward balance. Buyers may have more time and choices, but demand for luxury homes in these communities remains strong, keeping the Raleigh area competitive in today’s market.
