On Nov. 10, the Wake County Register of Deeds released its October 2026 report. Because it's based on deeds actually recorded with the county, it shows what closed, not what sellers were asking. Here's what it says, how to read it, and where mortgage rates stand this week.
What the county reported for October 2026
- Median sale price: $475,000, up $25,000 from $450,000 in September 2026.
- Year over year: the Register's October 2025 report put that month's median at $465,000, so October 2026 came in $10,000 higher.
- Transactions: 5,485 recorded in October, 484 fewer than in September. The county's October 2025 report recorded 2,934 transactions that month. The two releases do not explain that year-over-year difference, so I would not treat it as a simple change in the housing market without more detail from the county.
- Core market (transactions of $1 million or less): 5,278, down 492, or 8.5%, from September.
- $1 million to $30 million: 204 transactions totaling $448.0 million, down $95.1 million from September.
- $30 million and up: 3 transactions: Cambridge Village of Apex ($110 million), Cambridge Village of Briar Creek in Raleigh ($99 million), and Midtown Crossing Apartments in Raleigh ($32 million).
- Deeds of trust (the documents that secure loans in North Carolina): 2,585 recorded, down from 2,910 in September.
How to read these numbers
This median covers deed transfers that had excise tax, including land, condos, and commercial property, not just single-family homes. It's a useful look at overall activity, but it isn't the price of a typical house and it isn't a valuation for any one home.
One month also isn't a trend. A $25,000 jump in one month can come from the mix of what happened to close, such as more higher-priced homes or fewer entry-level sales. The steadier signal is the year-over-year median, which was modestly above last October's.
I'd also read this report alongside listing data. My earlier November market update covered Realtor.com's October listing numbers: more homes for sale than a year ago, but fewer new listings and fewer pending sales. The recorded median is higher than last October, while October's closed volume was lower than September's.
The drop in deeds of trust is consistent with fewer October sales than in September. The county counts both purchase loans and refinances in that number, so it does not break out why lending fell.
Where mortgage rates stand this week
Rates have gone up and down this fall:
- Freddie Mac's survey had the 30-year fixed at 7.40% on Oct. 8, easing to 7.18% on Nov. 5. A year earlier, on Nov. 5, 2025, that average was 6.22%.
- The Mortgage Bankers Association reported a 7.21% average contract rate for 30-year conforming loans for the week ending Nov. 6, its fourth straight weekly decline. Purchase applications rose 8% that week but were 18% below a year ago, as reported by Realtor.com and CNBC.
- On Nov. 10, Mortgage News Daily's daily 30-year average rose 12 basis points to 7.30% after a hotter-than-expected inflation report, according to CNBC.
- Freddie Mac's Nov. 12 weekly survey put the 30-year fixed at 7.11%, down from 7.18% the week before and its fourth straight weekly decline. The 15-year fixed averaged 6.45%. A year ago, the 30-year averaged 6.24%. Freddie Mac's weekly number averages applications from Thursday through Wednesday, so it smooths out the Tuesday jump in daily rates.
These are national averages. They aren't North Carolina rates, and they're different from the Federal Reserve's policy rate. Your actual rate depends on your credit, down payment, loan type, and lender.
To put numbers on it: with a $475,000 price and 20% down (a $380,000 loan), principal and interest on a 30-year fixed comes to about $2,556 a month at this week's 7.11%, and about $2,605 at the 7.30% daily average from Nov. 10. A year ago, at Freddie Mac's 6.24%, it would have been about $2,337. That excludes taxes, insurance, and HOA dues, and it's illustrative math, not a loan offer.
What this means if you're selling
The countywide recorded median is holding above last October, but September-to-October sales volume was lower. Buyers are comparing carefully, so pricing from recent comparable sales near you, not the countywide median, matters more than usual. If your home has been sitting, my guide on price reductions this fall walks through what the data shows.
What this means if you're buying
Rate moves of a tenth or two can show up in days, as this week showed. Get Loan Estimates from more than one lender, ask how a rate lock works, and decide on the monthly payment you're comfortable with before you start touring. My November mortgage rate guide goes deeper on locks and negotiating closing-cost help.
Thinking about a move?
If you want to know how these countywide numbers apply to your home or your search in Raleigh, Cary, Apex, Holly Springs, Fuquay-Varina, or nearby, I'm happy to pull the comparable sales for you. Call or text (919) 527-5727, or email blair.whelan@exprealty.com.
Blair Whelan, REALTOR®
eXp Realty
Sources
Wake County Register of Deeds, "Wake County's median real estate price increased by $25,000 in October 2026, ending the month at $475,000," released Nov. 10, 2026: https://www.wake.gov/news/wake-countys-median-real-estate-price-increased-25000-october-2026-ending-month-475000
Wake County Register of Deeds, "October 2025's Median Price of Wake County Real Estate increased by $5,000 to $465,000," released Nov. 3, 2025: https://www.wake.gov/news/october-2025s-median-price-wake-county-real-estate-increased-5000-465000
Freddie Mac, Primary Mortgage Market Survey, "Mortgage Rates Decline for Fourth Consecutive Week to 7.11%," as of Nov. 12, 2026 (also the source for the Nov. 5 figure of 7.18%): https://www.freddiemac.com/pmms
Freddie Mac, Primary Mortgage Market Survey, as of Oct. 8, 2026: https://www.freddiemac.com/pmms/archive
Realtor.com, "Mortgage Demand Jumps 6.2% as Rates Fall for Fourth Straight Week," Nov. 11, 2026, reporting the Mortgage Bankers Association survey for the week ending Nov. 6: https://www.realtor.com/news/trends/mortgage-applications-rates-mba-survey-november-11-2026/
CNBC, "Mortgage rates jump sharply higher, after easing for four straight weeks," Nov. 11, 2026, reporting Mortgage News Daily's Nov. 10 daily average and the same MBA weekly figures: https://www.cnbc.com/2026/11/11/mortgage-rates-jump-sharply-higher-after-easing-for-4-straight-weeks.html
Payment examples use a standard 30-year fixed amortization formula on a $380,000 loan. They are illustrative only.