Hot housing markets: See how Raleigh home prices compare to other NC cities
Wake County reached an all-time high median real estate price recently — nearly $400,000 — but some areas of the state saw even larger pricing increases.
Data from Redfin Metro Area shows how median home prices in various North Carolina metro areas have fluctuated since January 2020, right before the pandemic.
Here’s a look at how Raleigh’s changing median home prices stacked up against other NC metro areas.
Note: Data for each month represents a rolling window of the previous 90 days.
Which NC cities saw biggest changes in median home prices?
• As of November 2021, Raleigh experienced nearly a 35% increase in median home prices, relative to January 2020, according to Redfin.
• Median home prices in Pinehurst saw almost a 22% decrease from January 2020 — the largest decrease of all cities included in this graph from January 2020 to November 2021.
• Median home prices in Henderson saw almost a 92% increase from January 2020 — the largest increase of all cities included in this graph from January 2020 to November 2021.
Chart can be viewed with this story at newsobserver.com/news/business.
How major cities’ home prices compare
• Winston-Salem had the largest increase in median home prices between January 2020 and November 2021, of the three largest NC metro areas with data available (Raleigh, Winston-Salem and Greensboro). Winston-Salem’s median home prices saw an almost 45% increase in that time frame.
• Greensboro beat out Raleigh as city with the second-largest increase in home prices out of the three major cities with data available. Greensboro had an almost 37% increase in median home prices between January 2020 and November 2021.
• Data for median home price changes in Charlotte was not available.
Chart can be viewed with this story at newsobserver.com/news/business.
Wake County’s all-time real estate high
Wake County reached an all-time high median real estate price in September — $390,000. That includes the median monthly prices of recorded transactions under $1 million, which includes the vast majority of housing market sales activity.
This landed the Triangle as the No. 2 real estate market for growth in a 2022 forecast by the Urban Land Institute. The region also ranked first for homebuilding prospects for the fifth year in a row, The N&O reported.
Wake County had 2,590 transactions of less than $1 million in September. The total was $1.02 billion, down over $109 million from August’s transactions of $1.13 billion.
This story was originally published December 28, 2021 at 7:56 AM.
