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Wake County News > Posts > Wake County Real Estate Value Continuing To Rise In Fiscal Year 2018
February 19
Wake County Real Estate Value Continuing To Rise In Fiscal Year 2018

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Monday, February 19, 2018
For Immediate Release

Contact: Luther Snyder, Deputy Director
O. 919-856-5462 M. 919-369-7045
luther.snyder@wakegov.com

WAKE COUNTY REAL ESTATE VALUE CONTINUING TO RISE IN FISCAL YEAR 2018

Raleigh, NC – A comparison of property recording activity between the first six months of Fiscal Year 2017 (July – December 2017) and FY 2018 (July – December 2018) indicates we are seeing an upward trend in the real estate market in Wake County.

The July – December 2017 (red bars on chart) six-month average volume of property sales (Deed Volume) was flat, but the value of the real estate sold per excise tax collected is up 15% compared to the same time frame in 2016 (green bars on chart). The increase in value indicates the property sold came with a higher price tag in the 2017 six-month period.

Deeds of Trust represent mortgages on real estate. Our Deed of Trust average volume is down by 19%, which was likely influenced by the factor that interest rates have been held low for such a long period of time. Hence, the long period of low interest rates has flattened out the market.

Deed Volume FY 2018.png

Excise Tax FY 2018.png

Deeds of Trust FY 2018.png

 


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