Wake Forest NC Real Estate - Weekly Market Report July 22 - 28, 2012

By
Real Estate Broker/Owner with RED Properties NC #129285
https://activerain.com/droplet/FK2

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!

 

 

Posted by
 RED Properties RaleighRed
RED Properties RaleighRed

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Ambassador
1,895,205
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Hi Leesa. Another fine Wake Forest market report you have put together. I am amazed how you narrow it down to the one week interval and your distressed properties sales seem so nice and low.

Jul 31, 2012 01:06 AM #1
Rainmaker
770,413
Thom Abbott
MyMidtownMojo.com |770.713.1505 | Intown Atlanta GA Condo Living - Atlanta, GA
Midtown Atlanta GA Condos For Sale

Leesa....I like this report and the format. I've been doing buildings one, by one, but I need to do an overall report for the Midtown area! It might look much different!

Thanks for the idea!

And YES...a great report!

Jul 31, 2012 01:29 PM #2
Rainmaker
635,598
Leesa Finley
RED Properties - Wake Forest, NC
RED Properties - Raleigh NC Real Estate

It is wonderful that the REO and short sale market has tapered off.  That's GREAT news for my fairmarket sellers, Gary!

Aug 01, 2012 04:15 AM #3
Rainmaker
635,598
Leesa Finley
RED Properties - Wake Forest, NC
RED Properties - Raleigh NC Real Estate

Thanks so much, Thom!  It is amazing what you can ascertain from these weekly reports over a period of time, isn't it?

Aug 01, 2012 10:55 PM #4
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Rainmaker
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Leesa Finley

RED Properties - Raleigh NC Real Estate
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