If you thought that Raleigh’s real estate market was slowing down… we have some bad news for you. February 2022’s median sales price for Wake County real estate shattered the record high at $420,000—which is up $10k from January 2022. And the market shows no sign of stopping there.
In the very high-value segment (real estate sales transactions worth $30 million and above), apartment activity dominated with five sales totaling over $296 million, which is a $438 million decrease from January 2022’s very-high value market amount.
Meanwhile, the high-value segment of real estate (transactions between $1 million to $30 million) totaled over $317 million—over $37 million more from January 2022. And in the core-value market ($1 million or less properties), 1,916 properties totaled just over $789 million, a 1.5% increase from January’s $777 million.
The total of all of these sales equaled over $1.4 billion over 2,030 sales in February 2023.
The following chart shows the long-term trends in Wake County real estate activity from 2020 to 2022.
I’ve told you once and will tell you again, now’s the time to buy! I can help you navigate through Wake County’s aggressive real estate market and find you your dream home—whether you choose to rent or buy. Contact me at Annie@HudsonResidential.com or 919-961-3277 to chat now!