3 Reasons Buyers Have an Advantage in the Wake County Market

By Cynthia Quarantello

Cynthia Quarantello is an award-winning Real Estate Agent specializing in buying and selling homes throughout the Triangle area. She holds advanced degrees in advertising, marketing, and business, which enable her to provide exceptional service to her clients.

The Wake County housing market is looking good this fall. Why? There are three things that are happening in our local market that make it a good place if you’re buying, selling, or looking for an investment property.

Market activity. The market is quite active right now. We have around 3,500 listings and 2,200 homes under contract. This means there’s a bit of room for negotiations, which is great for buyers. It’s a full market, but there are opportunities for you.

Pricing segments. We’re seeing the healthiest market between the $500,000 and million-dollar ranges. Homes within this price bracket are moving well, while those priced over $1 million are sitting on the market longer. We just have fewer buyers in the luxury market right now, but interest usually picks up in the spring.

“Looking ahead, we expect the market to get busy next year.”

Market inventory. We’re at about 2.8 months’ worth of supply. To put that into perspective, a buyer’s market typically has around four months of inventory. So, we’re still in a seller’s market, but it’s just taking a little longer to sell.

Even though the market is a bit slower this fall, it’s a good time for buyers. With the upcoming election, activity tends to be a little slower, which means more room for negotiations. Looking ahead, we expect the market to get busy next year. With fewer listings coming on and more buyers entering the market, it’s a good idea to act sooner rather than later.

If you’re thinking about buying a house, call us, DM me, or DM the team. Don’t hesitate to contact us at (919) 830-9051 or cynthia@cqrealtygroup.com. Let’s connect.