Wake Forest NC Real Estate - Weekly Market Report June 17 - 23, 2012

Real Estate Broker/Owner with RED Properties NC #129285

There have been some great new listings added to the Wake Forest NC Real Estate Market this past week!  The competition has been strong through the Spring Market and the Summer months are shaping up to be just as competitive.  

There were 19 new listings added to the Homes for Sale inventory last week with none 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 later this Summer making competition even more fierce!  The price range for new listings ranges from $135,000 - $800,000 with a variety that includes townhomes, starter homes and luxury homes.  The breakdown of the new listings last week is:

  • Fair Market Resales - 13
  • REOs - 1
  • New Construction - 5

Twleve (yes - 12) homes closed last week in Wake Forest NC.  The Sales Prices range from $70,000 - $614,000 with an average List Price to Sales Price ratio of .96%!  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 - 5
  • New Construction - 4
  • REOs - 2
  • Short Sales - 1

Twelve 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.  Here is the breakdown for Pending Listings last week: 

  • Fair Market Resales - 5
  • New Construction - 7

Quite a few listings, 9 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!

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

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 RED Properties RaleighRed
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Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease


Love this fabulous info on Wake Forest, as well as your explanations.  We are also seeing homes sell quickly and close to asking if priced right.  The market is shifting, talk to your LOCAL agent to get the right help making a smart choice.

All the best, Michelle

Jun 24, 2012 11:25 PM #1
Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in Southern RI and beyond

Leesa, such great Real Estate Market info on Wake Forest and complete recaps of the week in review...clients need to know your expertise and it shines here.  Enjoy happy sales!

Jun 25, 2012 12:34 AM #2
Leesa Finley
RED Properties - Wake Forest, NC
RED Properties - Raleigh NC Real Estate

Thanks so much Michelle for your kind words and it is SO exciting to see this turn in the real estate market!  Have a fantastic week!!

Jun 25, 2012 02:36 AM #3
Leesa Finley
RED Properties - Wake Forest, NC
RED Properties - Raleigh NC Real Estate

Thanks for stopping by, Ginny!  Happy sales to you, as well!

Jun 25, 2012 02:37 AM #4
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Leesa Finley

RED Properties - Raleigh NC Real Estate
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