Wake Forest NC Real Estate Market - Weekly Market Report for Sept 2 - 8, 2012

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

The first cool morning has come which means Fall is definitely on its way!  There have been some amazing homes for sale added to the current inventory this past week but it is certainly less that weeks previous.  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 31 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 $101,000 - $1,475,000 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 - 16
  • REOs - 3
  • New Construction - 11
  • Short Sales - 1

 

Twenty homes closed last week in Wake Forest NC.  The Sales Prices range from $60,000 - $490,000 with an average List Price to Sales Price ratio of 96%!  This ratio is slightly less than what we have experienced in the previous months.  Here is the breakdown of Homes Sold in Wake Forest NC last week:

 

  • Fair Market Resales - 12
  • New Construction - 17
  • REOs - 2
  • Short Sales - 0

 

Thirteen 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 - 10
  • REO - 0
  • Short Sales - 0

 

Quite a few listings, 11 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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And the Surrounding Towns and Cities of Wake Forest, Youngsville, Franklinton, Creedmoor, Raleigh, Oxford, Louisburg, Knightdale, Wendell, Garner, Cary, Apex & Holly Springs

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Jason Sardi
Auto & Home & Life Insurance throughout North Carolina - Charlotte, NC
Your Agent for Life

Leesa - Fall is probably my favorite season of all.  I can almost smell its arrival. Looks like there is some opportunity out there for folks wanting to reside in Wake Forest.  My Mother knows the area a bit better than I and I'm told it is beautiful this time of the year (and throughout the year, frankly).

Sep 13, 2012 07:53 AM #1
Rainmaker
6,153,217
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thanks for sharing your report.  North Carolina is one of the favorite destinations for Maryland retirees.

I hope you are having a most productive month as smart home buyers continue to take advantage of the very low mortgage interest rates.

Sep 19, 2012 11:24 PM #2
Rainmaker
635,598
Leesa Finley
RED Properties - Wake Forest, NC
RED Properties - Raleigh NC Real Estate

Hey there, Jason!  I know you come to visit from time to time and I'd love to see you the next time!

Sep 19, 2012 11:50 PM #3
Rainmaker
635,598
Leesa Finley
RED Properties - Wake Forest, NC
RED Properties - Raleigh NC Real Estate

Thanks, Roy!  I hope you are having an amazing day, week, month and year!  :)

Sep 19, 2012 11:51 PM #4
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Rainmaker
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Leesa Finley

RED Properties - Raleigh NC Real Estate
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