Is Wake, VA 23176 a buyer’s or seller’s market?
Wake is a seller’s market. With about 3.2 months of supply and 0% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
The Wake housing market right now
In the three months ending August 31, 2026, 0% of homes in Wake, VA 23176 sold above their list price, the typical home went under contract in 12 days and there were 3.2 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 1 sale, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking was about the same (0% then), homes sold about as fast and the median sale price fell 74% to $144,937. Overall, Wake is about as competitive as it was a year ago.
Within Middlesex County, homes here sell faster, and less often over asking, than in any other ZIP code in the county.
Nearby, Saluda 23149 (44% sold over asking) and Locust Hill 23092 (33% sold over asking) are even more competitive.
Run the numbers for 23176
Nearby markets
Church View 23032 — /sq ftDeltaville 23043Seller’s market $315 /sq ftHardyville 23070Seller’s market $207 /sq ftHartfield 23071Seller’s market $247 /sq ft Browse all markets →Where Wake is
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Questions about Wake real estate
Is Wake a buyer’s or seller’s market?
A seller’s market: there were 3.2 months of supply in Wake, VA 23176 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Wake?
The typical home went under contract in 12 days in the latest three months.
Do homes in Wake sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 96.7% of the list price.
What are property taxes in Wake?
About 0.50% of a home’s value a year in Middlesex County, or roughly $2,000 on a $400,000 home.
What is the median home price in Wake?
The median sale price was $144,937 in the three months ending August 31, 2026, about $403 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology