Wake County Real Estate Market Recap – How 2024 Shaped the 2025 Housing Market

by Stephanie + Ryan Ford

Now that we’re well into 2025, it's time to reflect on how the Wake County real estate market closed out last year. December’s data shows a market with rising inventory, strong buyer demand, and increasing home prices. If you’re considering buying or selling in Wake County, NC, understanding these trends can help you make informed decisions.

Key Market Trends from December 2024

More Homes on the Market: New listings rose 10.0% year-over-year, with 847 new homes hitting the market in December. Overall, 2024 saw 15.6% more homes listed compared to 2023, giving buyers more options.
Closed Sales Increased: December saw a 14.0% jump in closed sales, showing strong demand. Year-to-date sales were up slightly (0.9%), reflecting a steady market.
Home Prices Are Still Rising:
- Median Sales Price: $485,500, up 0.7% from December 2023.
- Average Sales Price: $578,031, marking a 4.7% increase and indicating sustained home value growth.
Faster Sales: Homes are selling quicker than a year ago. The average days on market (DOM) fell 7.7% in December and dropped 52.6% year-over-year, meaning well-priced homes are moving fast.
Inventory Growth: The number of homes for sale increased 14.1%, with a 1.9-month supply (up from 1.7 months), providing more choices for buyers.
Affordability Slightly Declined: The Housing Affordability Index dipped to 65, meaning homes are slightly less affordable due to price increases.

Wake County Real Estate Market Update – December 2024. Key stats: new listings up 10%, closed sales up 14%, median home price at $485,500, and inventory up 14%. Homes are selling faster, with days on market down 52.6% year-over-year. The report includes charts and tables showing market trends.

What This Means for Buyers and Sellers

For sellers, homes are selling quickly and at higher prices, making this a strong time to list. However, strategic pricing remains critical—buyers have more options, and overpriced homes may sit longer.

For buyers, while inventory has improved, home prices continue to rise. Moving quickly and securing a competitive mortgage rate will be crucial in the coming months.

If you’re thinking about buying or selling a home in Wake County, my expertise in market pricing and local real estate trends can help you navigate this evolving market.

📞 Considering a move? Let’s connect! Text me at 919-724-7010 or email to ford at trianglerealestatejournal.com