Market Trends: Wake County

Inventory
2.6 months
Median sold price
$485,000
Median days on market
14
Sold-to-list price
99.4%
Homes on the market
2,491

Inventory was 2.6 months. If you are not sure what inventory means, the one-minute video in our Media section breaks it down. The median sold price was $485,000, up 3.19% from the prior month. Median days on market fell 36.36% to 14 days, meaning homes were moving quickly.

The sold-to-list price was 99.4%, up 0.3% from the prior month, and sellers were receiving close to their asking price. There were 2,491 homes on the market, up 15.1% from the prior month.

Although more homes were on the market, time on market fell 36.36%. These figures work independently, and together they indicated a seller’s market.

Interest Rates

House and percentage symbol representing mortgage interest rates

On Thursday, May 15, 2025, the average 30-year fixed mortgage interest rate was 6.89%, up four basis points from one week earlier. The average 30-year refinance rate was 6.93%, down one basis point over the same period.

Your mortgage rate depends on a number of factors, including your individual credit profile and what is happening in the broader economy. These variables include:

  • Credit and finances: a stronger credit score and higher income relative to debt can help secure a better rate.
  • Loan size and type: loan amount, down payment, and loan program all affect the rate.
  • Property location: rates vary according to where a property is located.
  • First-time buyer status: many first-time homebuyer programs include lower-rate mortgages.
  • Economic factors: the Federal Reserve, inflation, and investor appetite all influence mortgage rates.
  • Lender: lenders set rates using many factors, including their own supply and demand.

Clever Home, Clever Idea: Under-Stair Space

Built-in drawers fitted beneath a staircase
Compact desk and shelving beneath a staircase

From my days running Borges Construction Company, I saw countless homes with unused space beneath the stairs. That is a missed opportunity for a reading area, shelves, a desk, or almost any idea you can imagine. Depending on how elaborate you want to be, custom cabinetry and pull-out drawers are also options.

Home bar and wine storage fitted beneath a staircase
Children’s playroom and drawers built beneath a staircase

You can let that space be a graveyard, or you can add real estate to your real estate.