Wake Forest NC Real Estate Market - Weekly Report for July 22 - 28, 2012
It has been an extremely busy week in the Wake Forest NC Real Estate Market! Here is the latest report with the Actives, Solds, Under Contract and Contingent properties - lot's of movement in the New Home inventory!
There were 33 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 $59,900 - $700,000 with a variety that includes townhomes, starter homes, move up homes and luxury homes. The breakdown of the new listings last week is:
- Fair Market Resales - 33
- REOs - 1
- New Construction - 7
- NO Short Sales
Twenty seven (YES - 27!) homes closed last week in Wake Forest NC. The Sales Prices range from $127,885 - $1,025,168 with an average List Price to Sales Price ratio of .99%! 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 - 14
- New Construction - 11
- REOs - 2
- NO SHORT SALES!
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 - 4
- New Construction - 5
- REO - 2
- Short Sales - 1
Quite a few listings, 13 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!