Is Wake County, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
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.
Housing Prices in Wake County, NC
How much do homes in Wake County, NC cost?
Median Sold Price
$472,436
$223/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Wake County have sold for 2.2% more than they did a year ago.
Summary: The median home sold price in Wake County was $472,436 in March 2024, up 2.2% from last year, and the median price per square foot was $223.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $246K | $249.9K | +1.6% |
| 2 Bedrooms | $312.5K | $317.1K | +1.5% |
| 3 Bedrooms | $399.9K | $404.8K | +1.2% |
| 4 Bedrooms | $562.3K | $576.1K | +2.4% |
| 5+ Bedrooms | $725K | $749.8K | +3.4% |
Summary: Wake County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.6%, 2 bedroom homes increased by 1.5%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 3.4%.
Median Sold Price Compared To Nearby Counties
| Wake County | $462K | $472.4K | +2.2% |
| Durham County | $405.8K | $411.6K | +1.4% |
| Franklin County | $373.8K | $370.4K | -0.9% |
| Granville County | $320.1K | $314.9K | -1.6% |
| Johnston County | $356.8K | $348.9K | -2.2% |
Housing Supply in Wake County, NC
How many homes are available in Wake County, NC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4,294 | 4,386 | +2.1% |
Summary: The Wake County real estate market had 4,386 homes for sale in March 2024, a 2.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 45 | 47 | +4.4% |
| 2 Bedrooms | 422 | 425 | +0.7% |
| 3 Bedrooms | 1,815 | 1,862 | +2.6% |
| 4 Bedrooms | 1,373 | 1,403 | +2.2% |
| 5+ Bedrooms | 639 | 649 | +1.6% |
Summary: The Wake County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 4.4%, 2 bedroom homes increased by 0.7%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 1.6%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1,010 | 1,133 | +12.2% |
Asking Price vs. Sold Price
490 Homes Were Sold
Under Asking
296 Homes Were Sold
At Asking
347 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wake County, you may be able to get a good deal. 43.2% of homes here sold below asking price last month.
Summary: A total of 1,133 homes were sold or pending in Wake County in March 2024, up by 12.2% month-over-month. Of the 1,133 sold homes, 43% were sold under asking, 26% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 101 Days | 79 Days | -21.9% |
Summary: Homes in Wake County had an average of 79 days on market in Mar 2024, down by 21.9% compared to last year.
Breakdown of Home Sale Times
156 Homes Were Sold
Under 30 Days
673 Homes Were Sold
In 30 - 90 Days
304 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Wake County has remained consistent over time.
Summary: During March 2024, 1133 homes were sold in Wake County; 14% of homes were sold within 30 days, 59% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.
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