Wake Forest NC Market Report - January 2009

January 2009 market statistics are out and they are eye-opening to say the least.  The active listings in Wake Forest, NC show a 14% decrease from January 2008 with an average DOM (days on market) of 119.  Please keep in mind that is average; homes on the market that are priced correctly from their initial time on market.  I can not emphasize enough how crucial it is to have a properly priced home that is market ready - it is what the market now demands!  Now is not the time to place a home on the market at a "hope-for" price - if you want to sell your home then price it correctly in the beginning.

The Absorption Rate in Wake Forest, NC has seen a dramatic upswing.  The numbers on the graph speak volumes.  The Absorption Rate is the supply of homes that are currently on the market.  The number attached to the absorption rate represents the number of months that it would take to sell the current supply (inventory) should no other listings enter the marketplace.

Lastly, here are the sales for the entire Triangle area for the month of January.  While the Absorption Rate for Wake Forest is high it is comparable to other areas of the Triangle such as Fuquay-Varina/S. Wake that stands at 21 and ITB (Inside The Beltline) that is at 22.  As the chart below indicates, Wake Forest, NC remains healthy in terms of sales once put into perspective with Wake County, NC as a whole.

Should you have any questions about the graphs or statistics and what they mean to you as a Buyer or Seller please feel free to contact me.  I would be happy to have a conversation regarding the statistics in more depth!

Written by:
Leesa L. Finley, Broker, Realtor®
Circa Properties
919.649.6128 - direct and txt msg

All content, including text, original art, photographs and images, is the exclusive property of Circa Properties, and may not be used without the expressed written permission of Circa Properties. All information is believed to be accurate but is not warranted, Copyright 2008.

Learn more about Wake County, Johnston County, Granville County, and Franklin County, North Carolina Real Estate which includes Raleigh, Cary, Wake Forest, Youngsville, Franklinton, Apex, Holly Springs, Garner, Fuquay Varina, Creedmoor, Clayton and more!

6:06 AM - Feb. 22, 2009
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Wake Forest NC Market Report - July 2008

July 2008 saw a decrease in the number of listings available in Wake Forest from June 2008 to July 2008 however Year to Year saw an overall 14% increase.

Wake Forest has also held steady with their absorption rate at 9 for two consecutive months.  We are still trending lower that the rest of the country.

And, finally, Wake County maintains healthy sales in all areas and continues to out-perform other parts of the country.  Wake Forest holds a very respectful 13% of total sales in Wake County.

5:05 AM - Sep. 23, 2008
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Wake Forest NC Market Report - June 2008

As is the trend in most of the country our Active Listings in Wake Forest are up.  As indicated by the chart below listings are up 25% for Wake Forest.

The next chart will help you to visualize the month to month trend from January 2008 through June 2008 of active listings in Wake Forest.  While the trend overall for the year may be up there does not to appear to be any wild fluctuations from month to month.

While the overall aborption rate for the country is reported at 11 it would appear that Wake Forest is bucking the trend.  We have had a steady decline in our absorption rate since January 2008 and are currently at 9. 

Lastly, Wake Forest maintains a healthy portion of sales in Wake County overall.  Wake County had aproximately 6991 sales with Wake Forest capturing 12%.

If you have any questions about the charts above, what they mean or how they may pertain to you whether buying or selling a home, please feel free to call me or email me - I would be delighted to help!

4:40 PM - Aug. 10, 2008
View more entries tagged with: Wake Forest Nc Real Estate, Circa Properties, Market Report

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