We are wrapping up the spring market in Wake County and making our way into summer! We finished May up 5.1% for new listings compared to May 2017, but still down 0.8% for the year. By this time in 2017, there were 11,467 new listings, and at the end of May 2018 that number was 11,380. Not far behind! One of the most interesting statistics for Wake County is the median sales price. In May 2017, the median sales price was $292,000, and May 2018 that number is $308,250 – a 5.6% increase! Year to date, that number is up 7.1% from where it was last year. So if you bought in Wake County last year, you are continuing the build good equity! (on average) We are still seeing a slow drop in months supply of inventory, down 4.3% this month compared to last year’s May. We need more inventory, so this is still a great time to put your house on the market. We are anticipating a busy summer as well!
Give us a call if you are interested in your home's market value! We would love to help.