Wake County officials announced on Apr. 7 that the median sales price for local real estate in March was $450,000, unchanged from February.
The data provides insight into market stability as the region recorded a total of 3,010 transactions across all property segments during March. This represents an increase from February’s total of 2,430 transactions. The combined value of these transactions exceeded $1.35 billion for the month.
In the high-value segment—defined as sales between $1 million and $30 million—there were 184 transactions totaling approximately $459.15 million, up by over $64 million compared to February. The very high-value segment (sales above $30 million) saw two transactions in both March and February.
Most activity took place within the core market (properties valued at or below $1 million), which accounted for 2,824 deals—551 more than in March of last year—and made up about 90% of all transactions for the month. Officials noted that changes in median prices are largely driven by this core market due to its volume.
Real estate lending also increased: there were 3,621 deeds of trust recorded in March compared to February’s figure of 2,953—a rise of 668 lending-related documents. Compared to March last year, lending activity is up by about 22%. Deeds and deeds of trust filed with the Register of Deeds provide a measure for both property transfers and loan activity regardless of transaction size.
Officials highlighted that seasonal trends affect real estate volumes and recommended reviewing monthly results alongside previous years’ data for context. Additionally, nearly half (48%) of deeds recorded in March did not attract excise tax; similar patterns have been observed throughout recent quarters.
For further details on Wake County real estate activity—including rezoning applications and building permits—officials recommend consulting additional information published by the Register of Deeds available at https://www.wakegov.com/news?department=29.
