Is Wake County, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Wake County has remained a Seller's Market.
Housing Prices in Wake County, NC
How much do homes in Wake County, NC cost?
Median Sold Price
$475,584
$225/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Wake County was $475,584 in April 2024, up 3.2% from last year, and the median price per square foot was $225.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $235.7K | $249.9K | +6.0% |
2 Bedrooms | $311.3K | $318.6K | +2.3% |
3 Bedrooms | $398.8K | $406.6K | +1.9% |
4 Bedrooms | $559.8K | $581.1K | +3.8% |
5+ Bedrooms | $721.3K | $759.4K | +5.3% |
Summary: Wake County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6%, 2 bedroom homes increased by 2.3%, 3 bedroom homes increased by 1.9%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes increased by 5.3%.
Median Sold Price Compared To Nearby Counties
Wake County | $460.8K | $475.5K | +3.2% |
Durham County | $404.9K | $411.5K | +1.7% |
Franklin County | $374.9K | $374.8K | 0% |
Granville County | $318.4K | $315K | -1.1% |
Johnston County | $357K | $348.3K | -2.4% |
Housing Supply in Wake County, NC
How many homes are available in Wake County, NC?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
4,519 | 4,657 | +3.1% |
Summary: The Wake County real estate market had 4,657 homes for sale in April 2024, a 3.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 46 | 43 | -6.5% |
2 Bedrooms | 429 | 447 | +4.2% |
3 Bedrooms | 1,922 | 1,959 | +1.9% |
4 Bedrooms | 1,453 | 1,524 | +4.9% |
5+ Bedrooms | 669 | 684 | +2.2% |
Summary: The Wake County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 6.5%, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 1.9%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes increased by 2.2%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1,210 | 1,304 | +7.8% |
Asking Price vs. Sold Price
519 Homes Were Sold
Under Asking
333 Homes Were Sold
At Asking
452 Homes Were Sold
Over Asking
Summary: A total of 1,304 homes were sold or pending in Wake County in April 2024, up by 7.8% month-over-month. Of the 1,304 sold homes, 40% were sold under asking, 26% were sold at asking, and 35% were sold over asking.
Days on Market for Wake County, NC
How long does it take to sell a home in Wake County, NC?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
90 Days | 28 Days | -68.3% |
Summary: Homes in Wake County had an average of 28 days on market in Apr 2024, down by 68.3% compared to last year.
Breakdown of Home Sale Times
984 Homes Were Sold
Under 30 Days
209 Homes Were Sold
In 30 - 90 Days
111 Homes Were Sold
Over 90 Days
Summary: During April 2024, 1304 homes were sold in Wake County; 75% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.