Downtown Raleigh’s Condo Market Heats Up

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Further evidence that demand in the housing market is rising and inventories are falling: as the market stands, the downtown Raleigh condo market only has a four-month supply of inventory! According to local analyst Hillary Stokes, the market demand is likely to exceed supply in 2013. There were 105 condo sales recorded in downtown Raleigh in 2012, with an absorption rate of 8.6 unit sales per month. This led to a price increase for the condo market of 1.6% between 2011 and 2012, a trend that would likely continue into 2013. Great news for downtown homeowners and businesses! To read the full story visit the Triangle Business Journal.