Is Wake, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Wake is a seller's market

Buyer's
Market

Difference Since Last Month

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

Key Takeaway

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

Housing Prices in Wake, VA

How much do homes in Wake, VA cost?

Median Sold Price

$355,000

$233/sqft

Based on all homes sold in November 2024.

Difference Since Last Month

-$294,900(-45.4%)

Key Takeaway

Homes in Wake have sold for 45.4% less than they did a month ago.

Summary: The median home sold price in Wake was $355,000 in November 2024, down 45.4% from last month, and the median price per square foot was $233.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 --
N/A
2 --
N/A
3 $649.9K$355K
-45.4%
4 --
N/A
5+ --
N/A

Summary: Wake housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 45.4%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in Wake, VA

How many homes are available in Wake, VA?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
56+20.0%

Summary: The Wake real estate market had 6 homes for sale in November 2024, a 20.0% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 11
0.0%
3 34
+33.3%
4 11
0.0%
5+ 00
0.0%

Summary: The Wake housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
12+100.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Wake, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.

Summary: A total of 2 homes were sold or pending in Wake in November 2024, up by 100.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.

Days on Market for Wake, VA

How long does it take to sell a home in Wake, VA?

Average Sale Time

Oct 2024Nov 2024CHANGE
26 Days2 Days-90.4%

Summary: Homes in Wake had an average of 2 days on market in Nov 2024, down by 90.4% compared to last month.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 2 homes were sold in Wake; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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 18 Days Ago

Newest Listings in Wake, VA

Nearby Markets to Wake, VA

What housing markets are near Wake, VA?