As we move through 2025, it’s clear Wake County remains one of North Carolina’s most resilient housing markets. The second quarter offered a mix of steady growth in home values, shifting inventory trends, and the continued impact of nationwide interest rate pressures. Whether you’re considering buying, selling, or simply keeping an eye on the Wake County real estate market, here’s what you need to know about how Q2 unfolded — and what it could mean for the rest of the year.
Q2 2025: Wake County by the Numbers
A steady rise in prices
In the second quarter, Wake County’s median sale price continued its upward trend, finishing June at $495,500, up over $22,000 from just a month prior. Compared to this time last year, single-bedroom homes saw some of the biggest price jumps, while larger properties, including four and five-bedroom homes, also posted gains in the 3% to 5% range.
This price growth outpaces the national median, which also hit a record high of about $435,000 in June. Wake County’s combination of strong job growth, steady in-migration, and limited resale inventory has helped keep prices elevated even as higher mortgage rates continue to challenge affordability for some buyers.
Inventory trends: signs of balance
One notable change this quarter was a slight increase in active listings. By the end of June, Wake County had just under 6,700 homes for sale, marking a small but meaningful uptick from the start of the quarter. While this is encouraging for buyers who have faced tight supply for several years, total inventory still sits well below pre-pandemic levels. Sellers continue to benefit from limited competition in many neighborhoods, especially popular suburban markets like Fuquay-Varina, Holly Springs, Apex, and Cary.
Days on market and sales activity
Homes spent an average of 35 days on the market in June — about a week longer than the same time last year. While homes are taking slightly longer to sell, many are still moving quickly: over 65% of homes listed sold within 30 days, and only about 10% sat for 90 days or more.
Closed and pending sales did slow slightly in June, totaling about 1,370 transactions, down about 7% from May. This mirrors the national trend of softer existing-home sales as buyers weigh higher borrowing costs.
National Trends Shaping Wake County’s Housing Market
Interest rates remain a headwind
One of the biggest stories in real estate across the country is the continued impact of mortgage rates hovering between 6.6% and 7%. Many homeowners with ultra-low rates from 2020–2021 remain hesitant to list, limiting supply. At the same time, buyers are recalculating what they can afford monthly.
The National Association of REALTORS® projects that rates could ease closer to 6% in 2026, which would likely free up more inventory and expand buyer demand. Until then, rates near 7% will continue to shape buying power in Wake County, keeping some would-be buyers on the sidelines while nudging others to adjust their price range.
Inventory levels improving — but not enough
Nationwide, housing inventory climbed about 16% year-over-year in Q2, but supply is still tight by historical standards. Builders are adding new homes, but many construction projects are happening in suburban and exurban pockets. In Wake County, new construction has helped expand choices in growing areas like Willow Spring and Clayton, but high land and labor costs continue to keep building pace moderate.
How Q2 Trends Affected Buyers
Buyers in Wake County saw slightly more choices in Q2 than earlier this year, with more listings hitting the market each month. However, the modest boost in supply hasn’t translated to major price relief.
Key takeaways for buyers:
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Buyers still face significant competition for well-priced homes, especially in sought-after neighborhoods with top-rated schools.
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Over half of Q2 homes sold below asking price, showing that motivated buyers can negotiate — especially for properties that linger beyond the first 30 days.
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First-time buyers continue to navigate affordability challenges. Many are adjusting expectations by looking slightly farther from Raleigh’s urban core or considering townhomes and smaller properties.
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Having financing ready remains crucial. Pre-approval and a clear strategy can give buyers an edge in Wake County’s still-competitive environment.
How Q2 Trends Affected Sellers
Sellers remained in a strong position throughout Q2, benefiting from high prices and steady demand.
Key takeaways for sellers:
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Well-priced homes in good condition are still selling quickly — two-thirds moved within a month.
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While multiple offers are still possible, bidding wars are less frenzied than they were at the market’s peak. Just under a quarter of homes sold above asking price in Q2.
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Pricing correctly from the start is critical. Overpricing can lead to longer days on market and larger price reductions later.
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Sellers who plan to buy another home in Wake County need to prepare for the same interest rate challenges as buyers. Many are choosing to stay put and renovate instead.
How Wake County Compares to the Broader Housing Market
While the U.S. housing market overall showed signs of softening in Q2, Wake County remains one of North Carolina’s top-performing counties for real estate. The area’s strong job market, continuous population growth, and mix of suburban and urban communities continue to attract both local movers and out-of-state buyers.
Compared to national trends:
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Wake County’s median home price is about $60,000 higher than the national average.
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Inventory here rose slightly but remains well below historic levels.
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Days on market are ticking upward but still indicate a healthy pace for sellers.
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Home values are more resilient due to sustained demand from relocating buyers and investors.
Looking Ahead: What Q3 Could Bring
As we enter the third quarter, several factors could shape Wake County’s housing market:
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Interest rates: Any signs of easing rates could motivate more buyers to return and unlock inventory from homeowners waiting to refinance or move.
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Inventory: Continued gradual growth in listings could help balance the market, giving buyers more room to negotiate while encouraging realistic pricing from sellers.
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New construction: Builders will likely play a larger role in meeting demand. Buyers open to new builds in areas like Clayton, Willow Spring, and parts of Johnston County may find attractive options.
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Economic factors: Wake County’s strong local economy, tech sector growth, and quality of life will keep the region attractive, even if national sales stay muted.
Final Thoughts
Wake County’s Q2 performance showed a market moving gradually toward balance, but demand remains strong enough to keep prices climbing. Buyers should be ready to move quickly when they find the right fit and work with an experienced local agent who knows how to negotiate effectively in this market. Sellers should continue to price strategically and lean on market data to set realistic expectations.
Whether you’re thinking of buying, selling, or investing in Wake County, Triangle to Coast Realty is here to help you navigate every step. Reach out to our team today for a local market consultation and personalized advice.
Sources
National Association of REALTORS®, Rocket Homes Market Report, Wake County Government Housing Updates, Associated Press Real Estate Coverage, Barron’s Mortgage Rate Reports, Business Insider Housing Market News, RealWealth North Carolina Market Forecast, Local MLS Data (Triangle Multiple Listing Service)
