Nestled between the Appalachian Mountains and the beaches of North Carolina is Raleigh, the charming state capital. A booming metropolis with an Old South vibe, the “City of Oaks” and its surrounding county has been drawing new residents at a rate of 40 per day with its top universities, healthy job market, diverse neighborhoods and, of course, to-die-for barbeque. This steady migration makes Raleigh one of the fastest-growing cities in America and a strong seller’s real estate market characterized by the third-lowest inventory levels in the country. In fact, the city ranks as one of the best for first-time homebuyers based on affordability and quality of life. Nevertheless, if you want to sell your home, you need to get a leg up on your rivals like Tuffy the Wolf against the Blue Devils. This is especially true for Raleigh homes in the luxury sector where demand is much softer. We looked at the data around Raleigh home sales, buyer profiles, and new construction, and talked to one of Raleigh’s top real estate agents to find out the secret to selling your home quickly in Raleigh, NC. If you live in Raleigh, you may already know that it is part of what’s known as “The Triangle”. This triangle is a region anchored by the three major research universities of North Carolina State University, Duke University, and University of North Carolina at Chapel Hill, as well as the cities of Raleigh and Durham and the town of Chapel Hill. The Triangle has been one of the hottest real estate markets in recent years due to the area’s rapid growth, with Shearon Farms, Alexander Place, and Wynterfield being some of the city’s fastest-selling neighborhoods with average home prices of $221,000, $203,000, and $191,000 respectively. Although prices are cooling a bit due to rising interest rates and home prices reaching fever pitch, you can still command a high price in these “hot” locales, and even sell your home for over asking with trees growing out of the gutters! But this comes with a caveat. If your home is in the “luxury” range, you might not have so much heat on your listing. Many of the buyers moving to Raleigh are relocating from expensive coastal cities and looking for something more affordable, or are millennials looking to purchase a starter home. The rest of the market may be short, but homes over $450,000 are in oversupply. So, you need to aggressively price your home if it’s over $450,00 or in a luxury neighborhood like Glenwood or Five Points where prices are double the median Raleigh home price of $258,692. 16-18% of listings in this bracket go through at least one price cut while they’re on the market. However, if you’re in the $200-250k range, and in a desirable location, then you can price at the higher end of your range based on your competition. Knowing whether or not your neighborhood and price range has an oversupply or undersupply should help you set a good price for your home that will make it attractive to buyers while making sure that you fetch fair market value. Your real estate should help you understand what these factors are and work with you to create a pricing strategy using a comparative market analysis of nearby recently sold homes. Learning more about your neighborhood isn’t just helpful for determining price. Taking a fresh perspective on your neighborhood should also help you determine what a buyer might like about living there. Does your block have amenities like a golf course or a tennis court nearby? Is there a local “downtown” that’s walkable from your front door? Your listing is a great opportunity to help potential buyers imagine what life will be like when they move in. Paint a picture for them that includes owning your home! Take for example this Glenwood South apartment. The listing makes sure to boast about the building’s location “In the heart of Glenwood South” as well as the apartment’s views of downtown and luxurious amenities. Doesn’t it sound great? Evidently, buyers thought so because this apartment was snapped up in three days for over asking the asking price! No matter where you live in Raleigh, you should play up any highlights that your location has to offer known to resonate with local buyers. According to our research of the fastest-selling Raleigh neighborhoods and listings, these are the top 10 location features Raleigh buyers seek: If your home offers any of these perks or outdoor amenities, be sure to mention them loud and proud in the listing description. Flexing for the ‘gram isn’t just for your brunch selfies, make sure your house has some smokin’ pics, too! According to data from the latest Census, 51% of new Raleigh residents are coming from out of state. Most of those potential buyers will start looking at listings online before they can come see properties in person, and it’s important to make a good first impression. Additionally, research shows that a good listing helps homes sell 32% faster and 44% of all home buyers start their home buying journey online. This means that your fantastic listing photos can drum up even more interest in your Raleigh home—the first impression of your Raleigh home from buyers near and far will be online. Top Raleigh real estate agent Tina Caul, who sells homes in the area at a 57% faster pace than her peers recommends professional staging and photography for an ideal listing. “We try to make buyers who see the home online really impressed by the photos so they can engage and come to the property,” she says. While the professional photographer will help you capture masterful shots with perfect lighting at golden hour, your job is to make the house shine with a deep cleaning and decluttering. Want some more tips on how to make your home look picture perfect? It’s never a bad time to sell your house in Raleigh, according to Caul. Market inventory and buyer demand do fluctuate throughout the year, but personal motivations typically trump a calculated list time anyway—and the good news is, you can sell your home successfully in every changing season. “If you ask agents and sellers, everyone says spring is the best, but if you ask me it’s a good time when you want to sell,” explains Caul. “There is no bad time.” According to HomeLight’s Best Time to Sell Calculator based on actual real estate transaction data, the best month to list your home for sale in Raleigh is April, when you could sell for 3.45% above the yearly average. In the fall and winter months, however, there aren’t as many homes on the market in general and you’ll face less competition, while you can trust that the buyers who come through won’t be kicking tires. “Buyers [in winter] are usually trying to close before the end of the year, so they’re very serious,” says Caul. You can compare the data for yourself, and may find it helpful to think about what kind of buyers your home will attract. Do you live in a family friendly neighborhood with great schools? If so, spring and summer might be a better bet to list your home—you’ll attract parents who want to get settled into a house before the next school year begins. If your house smells like rich mahogany a la Ron Burgundy’s apartment, you might encounter a problem in the Raleigh real estate market. The truth is, buyers in the Triangle like their homes light and bright these days. So if your home’s been styled in a classic, more dramatic color scheme with dark browns and deep reds, then a few cosmetic changes are in order before you put the for-sale sign in the yard. The good news is an aesthetic shift from gloomy to bright only requires a few gallons of pigment, resin, solvents, and additives—we mean paint, of course, so head to the hardware store stat. According to Caul, you can’t go wrong with Sherwin Williams Agreeable Gray or Accessible Beige for the main areas of your home, including the living room, dining room, entryway, and foyer. When it comes to the trim around windows and doors, Caul recommends shades of white such as Creamy and Alabaster that don’t feel hospital-sterile but give a room a crisp, clean look. Done with the walls? Head for the cabinets, because you’re not quite done! “You want to brighten houses and get rid of dark oak, maple, or cherry,” Caul advises, and that includes a home’s built-in cabinetry. Painting your cabinets will cost you in time, however—as it requires careful prepping and special application of a primer before you can even dive into the paint job itself. (For more on how to prep and paint your cabinets, check out this great step-by-step guide from Remodelista, a popular and trusted online resource for home design enthusiasts.) Caul cautions that before you make any moves on the paint front, consult with your real estate agent to make sure that you are picking colors that go with the style of your house. Many homes in Raleigh are newer construction or are decorated with sandy yellow shades, she says, and you don’t want to clash with your house’s current design. New construction is booming in the Triangle and analysts pegged 2018 as one of the busiest years yet for builders in this area. This means that buyers have plenty of brand new homes to choose from, so making sure your home feels fresh is important to compete in this market. Floors are one of the first things buyers see when they step into your home. If you have carpet and it’s in good shape, a steam cleaning may be adequate, but if your carpet is especially worn you may want to think about replacing it. Caul recommends an economical builder grade carpet. According to SF gate, “builder grade” refers to an economical carpet that only lasts about five years under heavy traffic. In short, it’s an affordable option that looks nice, but not nice enough that buyers will feel bad about removing it if they want something different. It is also recommended to stick with neutral colors. The Pioneer line of carpet from Home Depot in any of the neutral beige shades such as Oatbarn, Prairie Dance, or Santa Fe can’t be beat costing just $4.59 per square foot. Steer away from anything that might be controversial in taste like blues or grays. Dense, woven textured styles like Berber carpet should be avoided as it’s fallen out of fashion and may make your home look dated. If you’ve wrapped your flooring and paint projects, Caul recommends minor kitchen and bathroom upgrades to sell your Raleigh home at the top of its price point. It’s hard to get your money back on most of the major remodeling projects, so keep your home improvement efforts in the low to mid-scale range, such as: Curb appeal is your house’s first introduction to buyers, and it can make or break the relationship. If your house looks unkempt and dated you can expect to stay lonely on the market, but if buyers pull up and see your house winking seductively at them? You might just sweep them off their feet. Caul has some tips for making sure your landscaping looks superb that will help make sure your listing has plenty of suitors. There are 7,459 active real estate agents in the Raleigh real estate market alone, but the key is to find someone who’s got the chops to sell your house fast without sacrificing price. Top listing agents in Raleigh work with 1.8x more properties, fetch sellers 7.6% on sales, and move homes off the market 55.96 days quicker when compared to their peers. They’re hyperlocal experts who know the market like the back of their hand. HomeLight analyzes all real estate agents in Raleigh to bring you unbiased, data-driven recommendations. Get your custom agent matches, then interview your top two to three agents to make sure you’re making the right connection (HomeLight makes reaching out easy.) Once you find an agent to represent you every step of the way, you will be on your way to turning your Raleigh home around for a speedy sale. Follow these pro tips, and you’ll be closing in no time!Pricing your Raleigh home to sell it fast: Location matters big time
Play up your Raleigh neighborhood highlights in the listing description
Take amazing listing photos of your Raleigh home, so even out-of-town buyers take notice
Nail down the timing for your Raleigh home sale: Spring is the busy season, but don’t rule out the dead of winter!
Get to know the latest Raleigh interior design trends: Dark is out, light is in
To sell your house faster in Raleigh, update the flooring to something clean and modern
Focus remodeling dollars on minor kitchen and bath upgrades to your Raleigh home
Freshen up your curb appeal for a great first impression on Raleigh buyers
Partner up with a top-notch Raleigh real estate agent to sell your house fast
