Welcome to our latest real estate market update, focusing on Cary, Apex, Morrisville, Holly Springs, and Fuquay-Varina in North Carolina’s Wake County. In Cary – Apex – Morrisville, the median sales price is $555,000, influenced by both new and resale homes. Understanding the nuances of single-family home prices, especially in terms of new construction versus resale, is crucial for homebuyers. With 1.1 months of inventory, the market is competitive. Shifting our focus to Holly Springs and Fuquay-Varina, we find a median sales price over $700,000 for new construction homes, but less for resale. Local variations exist, emphasizing the importance of understanding the market. The 2.2 months of supply indicates a sellers market, with 98% of properties selling close to the list price and 10% even above. This seller’s market boasts an average of 24 days on the market, showcasing the rapid pace of sales. In conclusion, the limited inventory in this robust seller’s market offers opportunities for sellers, while buyers need to navigate competitive prices through negotiation. The growing population and strong labor market in Raleigh suggest a real estate performance above the national average. Stay informed to make the best real estate decisions in these dynamic areas!
January 2024 Market Update
