If you’re watching the luxury housing market in the Raleigh area, especially for homes over $750,000, there’s a lot to consider. Each city has its own trends, but one thing is clear: well-prepared homes continue to sell quickly, and buyers who act wisely have room to negotiate. Let’s break down the latest data for four key areas: Apex, Cary, Holly Springs, and Raleigh.
Raleigh Luxury Market Update
Apex Luxury Real Estate
Apex is starting to see strong momentum after a quiet spring. The median sales price reached $906,425, representing a 4.1% increase from the previous year. Homes are staying on the market a bit longer, at 7 days on average, which is a 40% increase, but they’re still selling relatively quickly.
Inventory is growing, with 89 active listings (up nearly 65%), and closed sales jumped 30% to 52. The increase in inventory is giving buyers more options, and July is expected to be even busier. With its desirable location and community features, Apex remains a strong choice for relocation.
Cary Luxury Real Estate
Cary’s luxury market continues to thrive, with the median sales price rising 9.5% to nearly $994,000. Homes are still selling quickly, on average in 7 days, even though that’s a 75% increase from last year.
What stands out here is demand. While inventory is up just 20%, buyer activity is strong, with 66 closed sales (an 8.2% increase). Unlike other markets where inventory is rising faster than demand, Cary’s balance still favors sellers. If you’re selling in Cary, now’s a great time to take advantage of the momentum.
Holly Springs Luxury Real Estate
In Holly Springs, the median sales price has climbed 5.8% to $882,500. Homes are selling in just 5 days on average, representing a 52% decrease in days on market, indicating that well-prepared homes sell quickly.
Inventory is up 71%, giving buyers more options after months of tight supply. However, only 20 sales closed, a 37.5% drop. This could reflect buyers being more selective or waiting for new construction to become available. The rise in luxury builders suggests more choices are on the horizon.
Raleigh Luxury Real Estate
Raleigh stands out as the only area in this group with a year-over-year price decline. The median price is now $1,011,500, a 7% decrease. Homes are spending 12 days on the market (up 33%), and inventory is growing, with 464 active listings.
Even so, sales are up 10.6%, showing buyers are still interested. The price dip may reflect builder overpricing or stronger buyer negotiations. This allows savvy buyers to obtain more value, especially if they’re willing to negotiate.
What Does This Mean for Raleigh Luxury Real Estate Buyers?
Across the board, homes that are well-priced and in good condition continue to sell quickly. Buyers who avoid bidding wars can often get homes at list price, or even less if the home has been on the market for a while. With no clear sign of lower interest rates on the horizon, now is a good time to negotiate confidently and make a move while opportunities are strong.
