Is Wake County, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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
$478,673
$227/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Wake County was $478,673 in June 2024, up 4% from last year, and the median price per square foot was $227.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $243K | $247.4K | +1.8% |
2 Bedrooms | $309.9K | $320K | +3.2% |
3 Bedrooms | $395K | $409.7K | +3.7% |
4 Bedrooms | $560.5K | $588.2K | +4.9% |
5+ Bedrooms | $714.6K | $774.5K | +8.4% |
Summary: Wake County housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.8%, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes increased by 8.4%.
Median Sold Price Compared To Nearby Counties
Wake County | $460.1K | $478.6K | +4.0% |
Durham County | $400K | $415K | +3.7% |
Johnston County | $350.1K | $349.4K | -0.2% |
Franklin County | $378.3K | $371.6K | -1.8% |
Granville County | $319.7K | $312K | -2.4% |
Housing Supply in Wake County, NC
How many homes are available in Wake County, NC?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
5,698 | 5,402 | -5.2% |
Summary: The Wake County real estate market had 5,402 homes for sale in June 2024, a 5.2% decrease compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 46 | 42 | -8.7% |
2 Bedrooms | 474 | 421 | -11.2% |
3 Bedrooms | 2,474 | 2,313 | -6.5% |
4 Bedrooms | 1,862 | 1,807 | -3.0% |
5+ Bedrooms | 842 | 819 | -2.7% |
Summary: The Wake County housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 8.7%, 2 bedroom homes decreased by 11.2%, 3 bedroom homes decreased by 6.5%, 4 bedroom homes decreased by 3%, and 5+ bedroom homes decreased by 2.7%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
1,554 | 1,430 | -8.0% |
Asking Price vs. Sold Price
577 Homes Were Sold
Under Asking
414 Homes Were Sold
At Asking
439 Homes Were Sold
Over Asking
Summary: A total of 1,430 homes were sold or pending in Wake County in June 2024, down by 8.0% month-over-month. Of the 1,430 sold homes, 40% were sold under asking, 29% were sold at asking, and 31% 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
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
82 Days | 28 Days | -65.8% |
Summary: Homes in Wake County had an average of 28 days on market in Jun 2024, down by 65.8% compared to last year.
Breakdown of Home Sale Times
1,061 Homes Were Sold
Under 30 Days
268 Homes Were Sold
In 30 - 90 Days
101 Homes Were Sold
Over 90 Days
Summary: During June 2024, 1430 homes were sold in Wake County; 74% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.