Buying or Selling: What to Expect in 2025
As we approach the start of 2025, the real estate market is bracing for another year of dynamic changes. Industry experts are forecasting a range of developments that will impact both buyers and sellers. Whether you’re looking to invest, purchase your first home or stay ahead of market shifts, understanding the key trends for the upcoming year is crucial. Let us guide you through the top real estate predictions for 2025!
North Carolina is currently experiencing a seller’s market, driven by strong demand and competitive conditions. Homes are spending an average of just 33 days on the market, with some areas like Cary and Chapel Hill seeing even quicker sales—between eight to nine days. Many properties are receiving multiple offers, and it’s common for homes to sell above list price, with an average of 26.1% of homes closing for more than their asking price. In fact, hot properties can sell for up to 4% over list price. While the median home price still stands at $390,100, it is expected to decrease as inventory rises. Overall, buyers have more choices, but the market remains competitive.
Looking ahead to 2025, North Carolina’s real estate market is expected to see several key shifts. As inventory continues to rise and interest rates stabilize, more homebuyers are likely to re-enter the market, following a slowdown in 2023 due to high rates. New home construction is also set to increase, driven by demand from remote workers and favorable mortgage conditions, with a significant portion of homes for sale being newly built.
While home prices have been relatively steady, they are anticipated to gradually decline due to slower growth and recent market adjustments. Additionally, iBuyers, such as Opendoor and Offerpad, are expected to continue making lowball offers, creating opportunities for individual buyers to negotiate better deals. With Julie Roland Realty, we can expertly handle the negotiation process on your behalf.
The housing market in Chatham County is showing a mix of steady demand and price competition. As of November 2024, there were 262 homes for sale, with 70 new listings added that month. The median sale price is $564,000, while the median list price is higher at $707,500. Homes are selling relatively quickly, with a median of 26 days to pending, and 22.4% of sales are closing above list price. However, more than half of sales are still coming in under the list price, suggesting some room for negotiation.
People are moving to North Carolina for its vibrant mix of innovation, natural beauty and strong economic opportunities. We are home to top research universities, tech hubs like the Research Triangle Park, and popular attractions. With a moderate cost of living, excellent educational institutions and thriving tech and healthcare industries, North Carolina is increasingly appealing to young professionals and families alike.
North Carolina’s job market remains strong, with an unemployment rate of 3.7%, and the cost of living is notably lower than the national average, at $43,959 compared to $61,334. These factors, combined with a solid economic foundation, make a significant downturn in the housing market in the state unlikely.
And in Chatham County, with its proximity to the Research Triangle Park, Raleigh-Durham International Airport and a 35-minute drive to downtown Raleigh, the county offers easy access to major cities and industries. Home to the $4 billion VinFast electric car factory and a focus on infrastructure and affordable housing, Chatham is poised for significant growth, with a strong emphasis on long-term planning and regional collaboration. Its combination of geographic advantages, business-friendly policies, and expanding industries positions it as one of the state’s top growth areas.