The Martini Mortgage Group which has its headquarters in Raleigh publishes every month the Raleigh, NC (Wake County) Real Estate Report Card and this is the March 2022 edition. They key metrics applied are Median Home Price, Appreciation, Population, and Affordability.
Median Home Price
A key indicator for market trends and market conditions is the Median Home Price. Simply put, the Median Home Price is the middle price point for real estate prices and it is not the same as Average Home Price.
The Median Home Price is my preferred metric because it is less impacted by a few atypical high or low sales in the Raleigh market.Certified Mortgage Advisor, Kevin Martini
Wake County, North Carolina Median Home Price
The Raleigh Metropolitan Statistical Area (a.k.a. Raleigh MSA) which is defined as Raleigh, NC as the principal city and the surrounding cities linked to Raleigh. This includes the following counties: Wake, Franklin Johnston. The Median Home Price for the Raleigh MSA is 300,585 for March 2022.
In the March 2022 Real Estate Report Card, the Martini Mortgage Group looks at historical appreciation and forecasted appreciation based on from leading industry experts. Important to note, appreciation is just a forecast and not a guarantee of future performance.
1 million plus (1.06M) call Wake County, North Carolina home and it is one of the fastest growing counties in North Carolina. In addition, it is the largest county in North Carolina with a 25% growth rate. Daily growth is 60+ people per day.
Oh By The Way
It is never too early to start to explore your homeownership options and you are not too late either. The first part of the homeownership journey is the loan and then after you have the certainty and being armed with price and cost clarity, the second step is to go find your home. The Martini Mortgage Group offers trusted advice with a frictionless digital mortgage process that provides certainty. To contact Mortgage Strategist with the Martini Mortgage Group simply call: (919) 238-4934.
It is understandable why some have the perception that a housing bubble is forming or worse we are already in a bubble. Perception is not always reality – real estate in Raleigh and all over North Carolina is green, growing and affordable. In episode 132 of the Martini Mortgage Podcast shares the factual data why it is not a housing bubble but an opportunity.
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