Is Wake County, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Wake County is a seller's market

Buyer's
Market

Difference Since October 2021

Since last year, Wake County has remained a Seller's Market.

Key Takeaway

Wake County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Wake County, NC cost?

Median Sold Price

$455,611

$220/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$82,296(+22.0%)

Key Takeaway

Homes in Wake County have sold for 22% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 $228.2K$277.5K
+21.6%
2 $245K$311.1K
+27.0%
3 $314.9K$397.1K
+26.1%
4 $440.6K$580.1K
+31.7%
5+ $600.3K$781K
+30.1%

Median Sold Price Compared To Nearby Counties

Johnston County
+29.1%
Franklin County
+28.8%
Durham County
+27.3%
Wake County
+22.0%
Granville County
+21.5%

How many homes are available in Wake County, NC?

Number of Homes For Sale

Sep 2022Oct 2022%
3,9424,225+7.2%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 5153
+3.9%
2 334354
+6.0%
3 1,8351,960
+6.8%
4 1,2341,330
+7.8%
5+ 488528
+8.2%

Number of Homes Sold

Sep 2022Oct 2022%
7881,183+50.1%

Asking Price vs. Sold Price

565 Homes Were Sold
Under Asking

249 Homes Were Sold
At Asking

302 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Wake County, you may be able to get a good deal. 50.6% of homes here sold below asking price last month.

Average Sale Time

Oct 2021Oct 2022%
6 Days19 Days+180.1%

Breakdown of Home Sale Times

911 Homes Were Sold
Under 30 Days

236 Homes Were Sold
In 30 - 90 Days

36 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Wake County are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Wake County, NC

Wake County, NC has 4,225 homes for sale to choose from. The number of listings in Wake County, NC increased by 7.2% between September 2022 and October 2022. Listings spent 19 days on the market in October 2022, and had a median list price of $455,611 during the same period. From September 2022 through October 2022, the following changes in listing prices were observed in this housing market: prices of 1 bedroom properties increased by 21.6%, the cost of 2 bedrooms properties went up by 27%, 3 bedrooms properties became 26.1% more expensive, 4 bedrooms properties became 31.7% more expensive, prices of 5 bedrooms properties went up by 30.1%. The following changes in the number of homes for sale were observed in this housing market: volume of 1 bedroom homes went up by 3.9%, number of 2 bedrooms homes increased by 6%, 3 bedrooms homes inventory increased by 6.8%, 4 bedrooms homes inventory increased by 7.8%, 5 bedrooms homes became 8.2% more available. In October 2022 more than 302 listings in Wake County, NC were sold above the asking price. During the same period more than 249 listings were sold at asking price, while more than 565 were sold below.

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