February 2025 SW Raleigh Real Estate Market Update
The SW Raleigh real estate market update reveals key insights into the latest housing trends across the region. Understanding the current numbers can help you make informed decisions about buying or selling in the SW Raleigh areas of Morrisville, Apex, Cary, Holly Springs, and Fuquay Varina.
Keep reading to learn more about the February 2025 market update.
Median Home Prices
One of the first things buyers consider is the median home price. The January data shows that Morrisville and Apex have a median home price of $605,000, while Cary is higher at $700,000. Holly Springs offers a more affordable option at $520,000, and Fuquay Varina is at $440,000.
Generally, the farther away from Raleigh, the more affordable the homes become—a trend that provides budget-conscious buyers with more options.
Months of Supply
A key indicator of market balance is the months of supply, which shows how long it would take to sell all the current listings.
Morrisville is approaching a balanced market with 3.6 months of supply, while Cary has 1.7 months, showing high demand. Apex follows with 2.2 months, Holly Springs at 1.8 months, and Fuquay Varina at 2.9 months.
Across the board, inventory is increasing, which gives buyers more choices.
Price Reductions
Price reductions can signal a cooling market. Morrisville saw 44% of homes reduce prices, an increase from the previous month. Cary experienced a decrease in price reductions at 36%, while Apex, Holly Springs, and Fuquay Varina saw fewer price cuts, ranging from 26% to 42%.
With the spring market approaching, price reductions may decline as demand rises.
List-to-Sales Price Ratio
The list-to-sales price ratio gives insight into how close homes sell to their asking price.
Morrisville and Holly Springs averaged 96%, Cary hit 97%, Apex reached 98%, and Fuquay Varina settled at 97%. These numbers show that while some homes are still selling near their list price, others are seeing discounts, reflecting the shifting dynamics of the SW Raleigh real estate market.
Properties Selling Over List Price
Another sign of market competitiveness is the percentage of properties selling over the list price.
Cary led the way with 14% of homes selling above asking price, followed by Apex at 10%, Fuquay Varina at 16%, and Morrisville and Holly Springs at 6%. However, most homes sell under list price, especially in towns farther from Raleigh, signaling a shift toward a more buyer-friendly market.
Days on Market
Homes spend varying amounts of time on the market in the SW Raleigh area.
Apex homes sell the fastest, at 16 days, followed by Morrisville, at 27 days. Cary averages 29 days, Holly Springs at 37 days, and Fuquay Varina takes the longest, at 44 days. This variation highlights how hyper-local real estate markets can be, even within the same region.
Conclusion
The SW Raleigh real estate market update shows a clear trend toward a more balanced market, with rising inventory and fewer price reductions. Buyers are gaining more negotiating power, while sellers need to be strategic about pricing. As spring approaches, seeing how these trends evolve will be interesting. Whether you’re looking to buy or sell, staying informed on the latest data can help you confidently navigate the market.