2013 Real Estate Market Recap for Wake County

Wake County Real Estate Recap 2013Presenting the Wake County 2013 year end Real Estate recap!

2013 was a year of healing for much of the nation, after a few tumultuous years for real estate and the economy… Last year we saw strengthening and improvement beyond what we could have expected.  The stock market is reaching record highs, and real estate across the nation is improving.  We’re seeing greater appreciation rates and home buyer and seller confidence growing.  Do we plan to sum everything up here today?  Sorry… definitely not.  Our specialty is Triangle area real estate, so we’ll stick to what we know.

The pie chart shows the breakdown of:Wake County 2013 Real Estate Recap

  • new active listings (homes that went on the market)
  • total active listings
  • closed listings
  • homes that have gone under contract

during the whole of 2013 for single family detached homes located within Wake County NC.

The “0% Active” is a tad confusing.  This category includes only the homes that entered the MLS (listed for sale) before January 2013, and sat on the market through the duration of the year (0% is GREAT and a high % would be alarming).

While the pie chart is a little arbitrary by itself, we include it to help paint the full picture for the stats below.

New Wake County Real Estate Listings on the Market in 2013

Wake County New Active 2013 Real Estate Recap

The “New Active Listings” with 2,881 homes represent the number of real estate listings that came on the market in 2013 and haven’t yet gone under contract or sold.  This includes homes that were listed anytime between Jan. 1st and Dec. 31st 2013.

Take a peak at the new Wake County NC Homes for Sale on the market in December (in alphabetical order by subdivisions).

Active Detached Homes Available at the End of 2013

Wake County Active 2013 Real Estate Recap

“Active Listings” include new listings to the market in 2013.  To get the number of homes listed before Jan. 1st 2013 we subtract new active from active which gives us:  69 homes in Wake County that have been listed for over a 1 year period.  This is a significant improvement to 162 listings that were on the market at the end of 2012 and signifies the 0% total Wake County real estate market – a healthy sign.

With just under 3,000 homes for sale ranging from $32,900 to $4,850,000 with an average price of a home for sale in Wake County being $371,572 we have affordable living available in one of the greatest cities in America (more on that in our collection of  Triangle area accolades).

Homes Under Contract in Wake County: 2013 Year End

Wake County Pending 2013 Real Estate Recap

At the end of 2013 there were 691 homes under contract, or in the “pending” status.

Homes that sold in Wake County in 2013

Wake County Closed 2013 Real Estate Recap

Here’s the big one:  A total of 12,861 single family detached homes were recorded in the TMLS to have sold in Wake County in 2013 (compared to 10,320 in 2012).  The average sales price was $288,209 (compared to $275,225 in 2012) at $112.62 per square foot (compared to $107.59 in 2012), closing at a healthy 98% (97% in 2012) of sales to list price and sitting an average of only 73 days on the market (compared to 111 days in 2012).

There’s a lot of great information above to get a good overview of Wake County real estate in 2013.  Want more information?  Just ask!

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*Any reference to TMLS data is based on information from Triangle MLS, which neither guarantees nor is in any way responsible for its accuracy. All data is provided ‘AS IS’ and with all faults. Data maintained by Triangle MLS may not reflect all real estate activity in the market.

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Is buying or selling a home on your list of 2014 resolutions?  Call us.  Want to learn more about us?  Read what some of our past clients have had to say:  testimonials and reviews.

Where exactly is Wake County, NC?  Outlined below:

Wake County Area

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