FHA loans and conventional loans are two of the most common types of mortgages. FHA loans are backed by the Federal Housing Administration (FHA) and offered by FHA-approved lenders. These loans are
Homebuyer interest in million-dollar-plus homes reached a record high in Wake County in January
Dated: February 21 2021
Views: 586
According to Redfin, nationwide, 10.8% of saved searches on Redfin.com filtered exclusively for homes priced over $1 million in January. That is up from 8.5% a year earlier and the highest share since Redfin started tracking this data in the beginning of 2017.
Meanwhile the trend here in Raleigh-Cary-Wake-County seems doubly so. Luxury homes, those prices above one million dollars in Wake County have seen a surge ins sales year over year. For example, in January 2021 there were 31 homes sold in Wake county greater than 1MM for an average of 1.5MM. Compared to 16 homes for the same period in 2020. A 100% increased demand than at the same period last year.
Yet, this trend does not appear to be isolated to 2021. Since 2017 reporting for the same January stats show exponential growth each year in Wake County!
What’s more, at the time of this writing, in Wake county there are only 15 homes for sale less than $200,000 while there’s a whopping 134 homes for sale greater than 1MM. That is nearly 13% of the available pool of homes for sale in the county of 1.1MM persons!
Ricardo Cobos
With a real estate background since 1996, Ricardo obtained his broker's license in 2015 and excelled in his market by assisting investors. He has become a preferred Realtor in the Raleigh-Cary region ....
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