According to WAKEGov, in November 2020, over $1.8 billion in real estate transacted in Wake County, making November the highest month of value this year. This beats the $1.62 billion high already set back in September.
What Drove the Increase?
November saw this rise in number due to an increase in the very high-value transaction segment over October. This segment is defined as transactions worth $30 million and up. In November, five transactions totaling $543 million were made. In October 2020 there was only $248 million worth of very high-value transactions.
The largest transaction was for a whopping $208 million on November 25, 2020.
Core Market Transactions in November
During November 2020, core market transactions were $936 million, down $121 million from October’s core market transactions of $1.05 billion, but up $148 million from November 2019 which was at $788 million. The core market is defined as property valued at $1 million or less and it comprised about 97% of November’s transactions.
What Houses Sold for in November
In November 2020, the median sales price of a parcel of Wake County real estate was $320,000, down $9,000 from October 2020.
Learn more at WakeGov.com.
What Does This Mean for You?
Now is a great time to sell your house! People are looking to buy and properties are selling quickly. Looking for more information about any of these topics? I would love to talk to you. Contact me today at 919-961-3277 or email me at Annie@HudsonResidential.com.