As we step into 2025, it’s essential to reflect on the trends and developments that shaped the Triangle’s real estate market over the past year. According to Doorify MLS, 2024 ended with an impressive $17.84 billion in total closed sales, marking a 1.3% increase from 2023. Although there was a 31% decrease in closed properties compared to the peak in 2021, the market continues to demonstrate resilience and steady growth.
Key Market Trends from 2024
Total Closed Sales: $17.84 billion, up 1.3% from 2023
Median Sold Price: Increased by 2.8%
Top Performing Markets: Raleigh led with over $3.8 billion in closed sales volume, followed by Durham and Cary
Peak Selling Season: May was the busiest month with 3,828 transactions
Slow Periods: The first half of January remains the slowest and most consistent downtime in the market
Market Highlights by the Numbers
Top Cities by Closed Sales Volume:
Raleigh: $3.87 billion in closed sales across 6,542 transactions
Durham: $1.73 billion in closed sales across 3,648 transactions
Cary: $1.18 billion in closed sales across 1,672 transactions
Wake Forest: $998 million in closed sales across 1,691 transactions
Apex: $990 million in closed sales across 1,495 transactions
Chapel Hill: $849 million in closed sales across 1,106 transactions
Fuquay Varina: $807 million in closed sales across 1,579 transactions
Clayton: $639 million in closed sales across 1,637 transactions
Holly Springs: $501 million in closed sales
Wendell: $378 million in closed sales
Top ZIP Codes by Closed Sales Volume:
27587 – Wake Forest: $997M+
27526 – Fuquay Varina: $804M+
27703 – Durham: $513M+
27502 – Apex: $506M+
27519 – Cary: $506M+
27540 – Holly Springs: $501M+
27614 – Raleigh: $408M+
27591 – Wendell: $378M+
27610 – Raleigh: $371M+
27615 – Raleigh: $371M+
Understanding Market Dynamics
The rise in median home prices by 2.8% points to a strong demand across the region. While 2024 saw fewer transactions overall, the market remains competitive, especially in high-growth areas like Raleigh, Durham, and Chapel Hill.
The busiest months—May through August—remain critical for market activity, reflecting seasonal trends in buyer and seller behavior. Conversely, the first half of January continues to be a period of reduced activity, offering a window for market evaluation and planning.
Looking Ahead
The Triangle's real estate market continues to evolve, shaped by economic trends and shifting demographics. As we move into 2025, BOLD Real Estate remains committed to providing expert insights and comprehensive services that help navigate these market dynamics.
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