Home Values

Wake County Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$220,400

  • 5.9% 1-year change
  • 3.9% 1-year forecast

The median home value in Wake County is $220,400. Wake County home values have gone up 5.9% over the past year and Zillow predicts they will rise 3.9% within the next year. The median list price per square foot in Wake County is $119, which is higher than the Raleigh Metro average of $113. The median price of homes currently listed in Wake County is $268,100 while the median price of homes that sold is $212,200. The median rent price in Wake County is $1,175, which is lower than the Raleigh Metro median of $1,190.

Foreclosures will be a factor impacting home values in the next several years. In Wake County 2.8 homes are foreclosed (per 10,000). This is lower than the Raleigh Metro value of 3.0 and also lower than the national value of 3.9

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Wake County is 4.2%, which is lower than the national value of 6.3%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Wake County homeowners underwater on their mortgage is 11.0%, which is lower than Raleigh Metro at 11.9%.

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Relative ZHVI
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Wake County Market Overview

Data through Feb 28, 2015
  • $220,400 ZHVI
  • 3.9% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Feb 29, 2016)
  • $268,100 Median listing price
  • $212,200 Median sale price
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Wake County Market Health

Data through Feb 28, 2015
  • 7.8/10 Very healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 11.0% Homes with negative equity (16.9% US Avg) (Dec 31, 2014)
  • 4.2% Delinquent on mortgage (6.3% US Avg) (Dec 31, 2014)

Homes foreclosed (per 10,000)

2.8 homes Wake County
3 homes Raleigh Metro
3.9 homes United States
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Cities in Wake County

Name Median ZHVI
Cary $279,600
Apex $256,200
Wake Forest $242,000
Name Median ZHVI
Morrisville $235,600
Rolesville $211,400
Raleigh $185,000
Name Median ZHVI
Willow Spring $162,300
Garner $149,400
Knightdale $142,700

Listings & Sales

Data through Feb 28, 2015
  • $119 Median list price / sq ft
  • $114 Median sale price / sq ft
  • 10.4% Listings with price cut
21.1%
Sold below listing
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Wake County Rentals

Data through Feb 28, 2015
  • Zillow Rent Index

  • $1,408 Wake County
    $1,344 Raleigh Metro
    $1,355 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 1.9 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,175 Rent list price
  • $0.84 Rent list price / sq ft
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