Raleigh, North Carolina, is the capital of the state. It is located in Wake County, where it is also the county seat, and thus it falls close to the center of North Carolina. Raleigh has a population close to 400,000 individuals, spread out over 142.8 square miles. Raleigh is notable being near North Carolina State University, UNC-Chapel Hill, and Duke University. Furthermore, Raleigh is particularly notable for being a very fast growing city, which means in turn that Raleigh real estate is highly valuable as demand has increased significantly.
Raleigh real estate prices are appropriately towards the higher end of real estate prices for North Carolina. In a survey of homes for sale on Raleigh property, the median price was found to be $208,000. This survey encompasses 5,299 different pieces of Raleigh property. A similar survey which surveyed 1,469 different foreclosed pieces of Raleigh property found that the median price of those pieces of property, now that they are up for sale, was $157,000.
Because Raleigh is such a quickly growing area, new homes are being consistently built in Raleigh, as well. A survey of 36 of these new pieces of Raleigh real estate found that the median price was $213,695, which is not much higher than the price of pieces of Raleigh real estate simple put up for sale. In general, the Raleigh real estate market has had something of a downward trend in market value since 2009 or so, but it has been a slight, gradual trend, and it may be reversing soon.