Statistics are out for the Wake county area which includes Apex, Cary, Fuquay Varina, Garner, Holly Springs, Raleigh, Wake Forest areas.

The chart below shows very clearly where and what the appreciation values were for the various areas in the past 6 years.

Chart below compares just how our market did this year over last - showing all sales (re-sales, new construction, condo's and townhomes).  Remember that these are averages...

Thanks to Stacey Andfindsen for some very interesting tidbits about our market here in Wake County. Here's a recap of his findings:

• There are +/-8,700 active Wake County listings. 188 are marked as short sales and 110 are marked as foreclosure
• 96% of Wake County sales w/in the past 13 months were non-foreclosure
• If you bought your home in 2003 or 2004 and sold it in the last 13 months your gain is the highest +3.87%. But if you bought in 2008 and sold within the same period your averaged a (loss) –1.2%.
• In May of of 2007 in Wake county the average listing was 6.97% per year above prior purchase price as opposed to the average now of 4.37%.  40% of resales occurring during the first 5 months of the year did not reduce their original sale price and sold in an average of 42 days for 96% of list.  Those agent/sellers who struggled with initial list price paid a price. Re-sale houses where final list price was less than original list price sold in an average of 114 days at 96% of final list and 87% of original list.
• Those resales where the original sales price was dropped sold in an average of 114 days at 87% of original list. OUCH!
• Just over 3,400 (39% of total) of Wake County sellers have dropped price from original list with the average price drop around 7%
• Average 1Q/09 sales price of a new home closed in TMLS increased 2% to $310,000
• Average 1Q/09 sales price in Cary/Apex/Morrisville increased 4%

So there you have it - The Good - The Bad - and The not so Ugly recap of our Raleigh Market.

Previous Market & Real Estate reports;

Cary Apex Morrisville NC Market Report
Wake County Final Market Report for May 2009
Raleigh NC (Wake County) April Market Report
Cary NC April Market Report
Raleigh NC (Wake County) February Market Report
Raleigh NC (Wake County) January Market Report