Wake County Real Estate Market Update – August 2024
The Wake County real estate market continues to show growth across various key metrics. In July 2024, the median sales price rose slightly by 0.3% compared to last year, reaching $495,759. Closed sales saw a notable increase of 5.3%, totaling 3,288 transactions. New listings surged by 12.5%, hitting 4,112, the highest level since July 2019.
Despite rising home prices, affordability is seeing some improvement, with the monthly principal and interest payments decreasing by 1% compared to July 2023. This marks the second consecutive month of decline in this payment metric.
Overall, while inventory levels are up by 59% year-over-year, the market remains robust, with prices steadily climbing but some affordability relief for buyers.
Purchase A Home In Wake County, North Carolina
Are you ready to purchase a home in Wake County? Karen Dupree Williams can help, reach out today!
(919) 809-0241 | [email protected]
