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 November 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

$482,909

$228/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$19,162(+4.1%)

Key Takeaway

Homes in Wake County have sold for 4.1% more than they did a year ago.

Summary: The median home sold price in Wake County was $482,909 in November 2024, up 4.1% from last year, and the median price per square foot was $228.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $246K$255K
+3.7%
2 $309.9K$324.9K
+4.8%
3 $399.6K$409.8K
+2.6%
4 $560K$597.4K
+6.7%
5+ $724.9K$788.6K
+8.8%

Summary: Wake County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.7%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 8.8%.

Median Sold Price Compared To Nearby Counties

Wake County
+4.1%
Durham County
+3.8%
Granville County
+1.9%
Franklin County
+1.3%
Johnston County
0.0%

Housing Supply in Wake County, NC

How many homes are available in Wake County, NC?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
5,4144,773-11.8%

Summary: The Wake County real estate market had 4,773 homes for sale in November 2024, a 11.8% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 4147
+14.6%
2 473440
-7.0%
3 2,3622,128
-9.9%
4 1,7741,499
-15.5%
5+ 764659
-13.7%

Summary: The Wake County housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.6%, 2 bedroom homes decreased by 7%, 3 bedroom homes decreased by 9.9%, 4 bedroom homes decreased by 15.5%, and 5+ bedroom homes decreased by 13.7%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1,2581,011-19.6%

Asking Price vs. Sold Price

562 Homes Were Sold
Under Asking

274 Homes Were Sold
At Asking

175 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. 55.6% of homes here sold below asking price last month.

Summary: A total of 1,011 homes were sold or pending in Wake County in November 2024, down by 19.6% month-over-month. Of the 1,011 sold homes, 56% were sold under asking, 27% were sold at asking, and 17% 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

Nov 2023Nov 2024CHANGE
74 Days40 Days-46.0%

Summary: Homes in Wake County had an average of 40 days on market in Nov 2024, down by 46% compared to last year.

Breakdown of Home Sale Times

594 Homes Were Sold
Under 30 Days

283 Homes Were Sold
In 30 - 90 Days

133 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.

Summary: During November 2024, 1011 homes were sold in Wake County; 59% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.

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

Report Updated 20 Days Ago

Newest Listings in Wake County, NC

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