Market Update: Single Family Home Sales Wake County, Raleigh.

We focus on the data that matters to you. This report is for Wake County, single family home resales (no new builds, no condos or townhomes).

If you are selling the market feels slower. The average number of showings per home listing in August was down to 6.5 per month, average days on market for homes sold in the Raleigh area increased to 26, and the average sold to list price was down to 97.4%. In spite of all that average sales price for a single family home sold in Wake County was up to $662,531.00 the third highest average price on record and up from $598,458.00 in August of 2023.

Our analysis shows this is the tale of many markets. 31% of the homes closed in August went under contract in the first weekend on the market and sold for an average of $9,000.00 over list price, while homes on the market 30 days or more sold for $58,000.00 under original asking price (7 actually sold at list or above).

The average price for homes on the market was 3% less than homes sold in the first 5 days, preparation, market timing and proper marketing are worth $20,000.00 on the average sale in Wake County.

All markets are crazy, this one is next level an agent and company that understand the nuances of the market as a whole and specifically your market is crucial for smart, easy, sane transaction.