Wake Forest NC Real Estate - Weekly Market Report June 24 - 30, 2012

By
Real Estate Broker/Owner with RED Properties NC #129285
https://activerain.com/droplet/Dmt

There have been some changes made to this weeks Wake Forest NC Real Estate Weekly Report.  The report now consists of Wake County, Granville County and Franklin County for all properties that have a Wake Forest NC mailing address.  It is my hopes that this will give you a broader picture of the Wake Forest NC Real Estate Market.

There were 39 new listings added to the Homes for Sale inventory last week with only 1 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 $100,000 - $1,600,000 with a variety that includes townhomes, starter homes, luxury homes and one current Bed and Breakfast in Wake Forest NC.  The breakdown of the new listings last week is:

  • Fair Market Resales - 22
  • REOs - 2
  • New Construction - 14
  • Short Sales - 1

Forty-six (yes - 46!) homes closed last week in Wake Forest NC.  The Sales Prices range from $83,000 - $565,000 with an average List Price to Sales Price ratio of .97%!  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 - 21
  • New Construction - 14
  • REOs - 8
  • Short Sales - 3

Twenty-two 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 - 6
  • New Construction - 14
  • REOs - 1
  • Short Sales - 1

Quite a few listings, 17 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 Market

 

Posted by
 RED Properties RaleighRed
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