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Is Wake County a buyer's or seller's market?

Hank Saye

Hank founded Saye Triangle Realty in 2013, and the business has demonstrated strong growth every year since our inception...

Hank founded Saye Triangle Realty in 2013, and the business has demonstrated strong growth every year since our inception...

Aug 14 2 minutes read
Just In: July 2022 Market Update, Raleigh Area
 
Is Wake County a buyer's or seller's market? According to RocketHomes.com, it is a STRONG seller's market.

 We recently completed a four-part video series for you on how to sell your home at the best price, terms and conditions. We would love to provide a personal assessment for you. Give us a call, text or email:

Hank at 919-348-1558
[email protected]

In July, the median sold price in Wake County was $450,566. This is a 26.2 percent increase over July 2021. Other counties in our area show an even higher increase! Durham County leads the way at a 31.4 percent year-over-year increase. Johnston County came in at a 30.3 percent increase and Franklin County at a 29.7 percent increase.

Also happening in July, the number of homes for sale in Wake County decreased by 3.6 percent from 3,977 to 3,835.

Meanwhile, the number of closed homes increased from June by almost 50 percent, growing from 1,188 homes sold to 1,778 homes sold.

Are sellers dropping their price? Well, mainly no! 61.2 percent sold above list price and 22 percent sold below asking price.

Days on market actually declined from July '21 to July '22. The average days on market was 10 days. If you are planning to buy, you still need to act quickly.The market is shifting, we know that. However, the fact remains Wake County and the surrounding area is still a very hot market, and it is a great time to sell or buy.
Give us a call, text or email:

Hank at 919-348-1558
[email protected]

Or send us a direct message on Facebook and Instagram, @sayetrianglerealtygroup.
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