Source: The Charlotte Observer —
Wake County reached an all-time high median real estate price in September — $390,000. That includes in the median monthly price of recorded transactions under $1 million, which includes the vast majority of housing market sales activity. “The beauty of a median is that … your outliers don’t affect the median price too much,” Luther Snyder, deputy director of the Wake County Register of Deeds office, said in an interview.
“We still have high demand, people are still looking for housing, and even with the supply being as low as it is, you still have a kind of price elasticity of the demand there, so people can still purchase a home.” Snyder chalks up the record median price to “things happening the way they are economically in the region” in terms of new jobs and migration to the area.
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