Wake Forest NC Real Estate Market - Weekly Market Report for August 5 - 11, 2012

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

There have been quite a few new listings added to the inventory of Homes for Sale in Wake Forest NC this past week.  The variety of price points, types of homes and locations offer home buyers many options.  Check out the latest Wake Forest NC Real Estate Weekly Market Report and let me know if you have any questions as I would be more than happy to help!  Also, if you want more specific information for a particular neighborhood I can certainly prepare a custom report just for you.

There were 47 new listings added to the Homes for Sale inventory last week with only ONE 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 $50,000 - $570,000 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 - 35
  • REOs - 4
  • New Construction - 7
  • Short Sales - 1

Twenty seven (YES - 27!) homes closed last week in Wake Forest NC.  The Sales Prices range from $84,500 - $697,500 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 - 17
  • New Construction - 9
  • REOs - 0
  • SHORT SALES - 1

Nine 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 - 3
  • New Construction - 3
  • REO - 3
  • 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 or send me an email - I'd be happy to help!


 

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 RED Properties RaleighRed
RED Properties RaleighRed

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