If you are looking to buy or sell a home, it is a good idea to know what homes in the area are selling for historically and in today’s market. In the following video, I break down the median sales price for homes in Raleigh, Cary, and Wake Forest over the last three years and explains what it means for you! Check out the video below.
- In Raleigh, we have seen an increase of 1.9% in home price.
- Inside the beltline, inventory is very tight. Homes sell fast, usually in one weekend.
- Once you get outside the beltline, inventory loosens up a little bit but homes are still going fast.
- It is harder to find new construction in Raleigh than it is in Cary and Wake Forest. Raleigh has a bigger inventory of older homes.
- In Cary, we have seen an increase of 2.8% in home price. The median sales price in Cary is almost $100,000 more than the Raleigh median sales price.
- Inventory is moving fast in Cary as well.
- It is easier to get newer homes in Cary than it is in Raleigh.
- In Wake Forest, we have seen a decrease of 4.8% in home price but this is likely due to correction because there have been so many new neighborhoods popping up in that area recently. What does this mean for you?
- Homes are a little bit less expensive in Wake Forest.
- There is lots of new construction, so if you are looking for a brand new home, Wake Forest may be perfect for you.
- The weather has delayed construction a little, but you will continue to see new houses in this area.
Median Sales Price Graph
You Need a Real Estate Professional on Your Side
If you are looking to purchase a home in Raleigh, Cary, or Wake Forest, you need to hire a real estate agent. The market is hot and homes are going fast. You want to make sure you have a REALTOR® that knows the market and can help you get into your dream home. Don’t forget that the cost of a real estate agent is typically covered by the seller, so when you are the buyer, this service is often free for you.
If you plan on selling your home, it is also a good idea to hire a real estate agent. Even though the market is hot, there are many reasons that it is in your best interest to hire a real estate professional. Real estate agents have access to the MLS or the Multiple Listing Service. The MLS is a database of the current homes that are for sale. By hiring an agent, your home will be listed on the MLS. Your real estate agent will help you prepare your home, price it for the market, and help advertise that your home is for sale. We also handle all the negotiations and paperwork!
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