Wake Forest NC Real Estate Market - Weekly Market Report for July 29 - August 4, 2012

By
Real Estate Broker/Owner with RED Properties NC #129285
https://activerain.com/droplet/G5b

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!  New Home activity made up 37% of all activity with the Wake Forest NC Real Estate Market - that is a very healthy number.

 

There were 44 new listings added to the Homes for Sale inventory last week with only TWO 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 late Summer making competition even more fierce!  The price range for new listings ranges from $114,990 - $499,900 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 - 19
  • REOs - 6
  • New Construction - 17
  • Short Sales - 2

 

Twenty eight (YES - 28!) homes closed last week in Wake Forest NC.  The Sales Prices range from $113,000 - $650,000 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 - 15
  • New Construction - 12
  • REOs - 1
  • NO SHORT SALES!

 

Nineteen 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 - 9
  • New Construction - 9
  • REO - 1
  • NO Short Sales

 

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 - I'd love to help!

 

 

Wake Forest NC Real Estate Market

Posted by
 RED Properties RaleighRed
RED Properties RaleighRed

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Rainmaker
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Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

I do like to see what is happening to the real estate market around the country.  Thanks for the info.

Aug 08, 2012 02:29 AM #1
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Amanda Christiansen
Christiansen Group Realty (260)704-0843 - Fort Wayne, IN
Christiansen Group Realty

Weekly market reports?  What a great idea Leesa!!  Guess who is going to "borrow" this idea?  :)                                            

Aug 08, 2012 10:20 PM #2
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Leesa Finley

RED Properties - Raleigh NC Real Estate
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