The housing market across Southwest Raleigh and its neighboring areas continues to evolve as we move through 2025. While some numbers may appear concerning at first glance, a closer look reveals a market that is adjusting rather than collapsing. Understanding the current trends and economic indicators can help both buyers and sellers make informed decisions.

SW Raleigh Real Estate Market Statistics

As of September 2025, the SW Raleigh real estate market shows signs of balance rather than decline. Median home prices remain steady across key areas. Morrisville reported a median price of $446,000, while Cary and Apex posted higher values at $580,000 and $625,920 respectively. Holly Springs followed closely at $580,000, and Fuquay Varina came in at $445,000. Single-family resales remain strong, ranging between $558,750 and $865,000.

The months of supply, a measure of inventory health, varied across the region. Morrisville stood at 5.7 months, Cary at 3.2 months, and Apex at 2.7 months. Holly Springs and Fuquay Varina were between 2.5 and 3.2 months, indicating a balanced market. 

Although price reductions occurred in more than half of the listings, particularly in Morrisville at 64 percent, these reflect market corrections rather than distress. Most homes continue to sell near their list price, with ratios between 94 and 96.5 percent.

What is a Market Crash?

A market crash occurs when home values drop sharply across the board, often paired with increasing defaults, foreclosures, and high unemployment. When homeowners can no longer make mortgage payments, the influx of foreclosed properties causes prices to fall further. This was the case in 2008, when home values dropped between 12 and 40 percent nationwide.

Today’s conditions in the Raleigh market differ significantly. While prices and sales are adjusting, these shifts are part of a natural cycle following several years of rapid appreciation rather than signs of a looming crash.

Key Indicators of a Market Crash

Three main factors help identify the potential for a crash: unemployment, foreclosures, and local market resilience. 

In the Raleigh and Cary metro area, the unemployment rate sits at 4 percent, below the national average and within a healthy range. Foreclosures remain low, with nearly half of homeowners considered equity-rich, meaning their outstanding loan balances are less than half their home’s value.

Moreover, Raleigh’s housing market has proven historically resilient. During the 2008 financial crisis, while national prices fell dramatically, Wake County home values rose about 3 percent. This strength continues to offer confidence to homeowners and investors alike.

Conclusion

Although market conditions are shifting, the current data does not point toward a housing crash. Instead, it suggests a more measured phase of correction and stability. For sellers, success depends on pricing and preparation. For buyers, patience and long-term planning remain essential. The SW Raleigh real estate market continues to demonstrate strength and adaptability, making it one of the most stable housing markets in the region.

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