Wake Forest NC Real Estate - Weekly Market Report for March 11 - 17, 2012

Real Estate Broker/Owner with RED Properties NC #129285

The Wake Forest NC Real Estate Market is definitely in the swing of Spring!  There were MANY new listings that hit the Wake Forest NC Real Estate Market this week and just since mid February there have been 118 homes for sale added to the mix!  Competition is fierce this time of year so if you are thinking of selling your Wake Forest NC Home you have to get your home in the best possible condition.  Check out a few of the tips that I offer  - you HAVE to be competitive and on top of your game.    Here are some great tips to get you prepared!

There were 34 new listings added to the Homes for Sale inventory last week with just one of them being short sales!  Just an FYI - there have been indicators that a few mores short sales and foreclosures will be hitting the market this Spring making competition even more fierce!  The price range for new listings ranges from $114,900 - $1,700,000 with a variety that includes townhomes, starter homes and luxury homes.  The breakdown of the new listings last week is:

  • Fair Market Resales - 21
  • REOs - 1
  • New Construction - 11
  • Short Sales - 1

Twleve (YES - 12!) homes closed last week in Wake Forest NC.  The Sales Prices range from $132,000 - $950,000 with an average List Price to Sales Price ratio of .963% - FANTASTIC!  Lesson learned?  Price it properly to start and it will sell!  Here is the breakdown of Homes Sold in Wake Forest NC last week:

  • Fair Market Resales - 9
  • New Construction - 3

Eleven home sellers in Wake Forest NC received contracts on their homes last week and it really is no surprise that ALL of them hit the mark for the most popular price point in Wake Forest NC.  Do you know what that sweet spot is?  You can check out ALL the price points in Wake Forest NC here - Wake Forest NC Real Estate Price Points - January 2012  (The February Market Report will be out this week - stay tuned!)  Here is the breakdown for Pending Listings last week: 

  • Fair Market Resales - 3
  • New Construction - 6
  • REOs - 1
  • Short Sales - 1

Quite a few listings, 15 to be exact, had their status changed to Contingent last week.  A Contingent Status reflects "conditions to be met" such as "contingent on inspections", "contingent on bank approval if a short sale" or even "contingent on buyers loan approval".  There are a multitude of reasons that a property could be Contingent and one thing to keep in mind is if you see a home that you are interested in and it is "Contingent" you should have your agent verify the reason for the contingency.  You never know, a back up offer could be made and you could end up getting the home!

The Spring Real Estate Market is phenomenal this year - don't miss out on this fantastic opportunity to sell your home in Wake Forest NC!  If you are looking for some tips to get your home ready for the Real Estate Market check out Putting Your House on the Market This Spring?  Get Ready NOW!

As I always say, if you would like specific information about YOUR neighborhood just give me a call or send me an email - I'd be happy to help!

Wake Forest NC Real Estate Market

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 RED Properties RaleighRed
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