Wake County Real Estate Analysis: November 2023 Insights

Median Price Shifts

  • Wake County’s median real estate price in November 2023 experienced a decline of $19,500, settling at $433,000 compared to October 2023.

Market Segmentation

  • The very high-value segment (transactions valued between $1 million to $30 million) recorded zero transactions in November.
  • High-value transactions (within the $1 million to $30 million range) constituted 138 transactions amounting to $298.9 million, showcasing an 8% decrease from October 2023.
  • The core market (properties valued at $1 million or less) observed 1,852 transactions, a 5% increase from October 2023, totaling $838.0 million.

Total Sales Overview

  • Total sales for November 2023 summed to just over $1.1 billion, slightly below October’s $1.3 billion, despite a surge in transaction numbers to 1,990 from October’s 1,908.

Median Sales Prices & Lending Activity

  • Median real estate price in November 2023 was $433,000, a $19,500 decrease from October 2023.
  • Real estate lending activity declined by 5% in November 2023, with 2,613 deed of trust transactions, marking a decrease of 143 transactions compared to October 2023.

Long-Term Trends

  • A breakdown of long-term trends in real estate transactions, showcasing the aggregate value, linear value, deed volume, and real estate lending from January 2021 through November 2023.

Methodology & Information

  • Insights derived from the Wake County Register of Deeds, highlighting changes in property rights, excise tax considerations, and the number of deeds and deeds of trust recorded.
  • An overview of the distribution of transactions exempted from excise tax in November 2023 compared to the previous year.

This comprehensive analysis offers a snapshot of Wake County’s real estate landscape in November 2023, highlighting market trends, price shifts, and lending activities derived from authentic data recorded at the Wake County Register of Deeds. We are always here to help you with any real estate trend advise you may have. For weekly insights check here for last weeks stats. All grafts posted here are from the Wake County website.