We have all seen some crazy things happen in the last 5 years or so. The real estate market has decided to play along and throw some wrenches in a lot of folks plans. Some have benefited, some have paid more than they wanted, and some are still waiting things out. The main issue(s) we in the real estate industry have been facing is inventory and interest rates.
The reason for this post is to just inform the public of what can happen in a year’s time. I have chosen two local municipalities that I do a lot of business in to show *1- the difference in a median sales price year over year and *2 – how two towns within a mile of each other can differ.
Below you will see a chart of Fuquay Varina and Holly Springs. The median sales price in Fuquay Varina in January of 2024 was $450,000 compared to the median home price in January 2025 of $440,000. In Holly Springs the median home price in January 2024 was $606,000 compared to the median home pice in January 2025 of $520,000.
Two things to note; Fuquay Varina has a significant price difference than Holly Springs….interesting as they are so close together. Also, the median sales price drop over a one year period is only 2.2% for Fuquay Varina compared to 14.2% for Holly Springs. In general, there is more inventory in Fuquay Varina…which will lead to lower prices, but also Holly Springs is closer to RTP and RDU, which will add value to home buyers wanting to be closer to travel and entertainment. So, the higher median sales price has a higher rate of depreciation.
How we reflect on this information will tell the tale. I “do not” think we will see 3% interest rates in the near future and I “do” think prices will continue to come down, but ever so slightly.
If you are interested in any market reports or analysis of an individual town or even a subdivision, I can gladly provide that information for you.
FUQUAY VARINA, NC
Holly Springs, NC