Wake Forest NC Market Report - November 2008

The latest report was just released from Triangle Multiple Listing Service.  There are some notable quotes from the report which should assist in explaining the current condition of our local market.  One quote that I wanted to mention at the beginning of this post is:

Where is the pain going to be felt in the coming months?

Not to pick on the $400,000 and up price point, but the supply numbers will force pain upon sellers. A search of new home listings within this segment reveals some eye opening numbers. Approximately 38% of new home listings within this segment have seen a drop in list price, with the average drop being 7%. The average days on market for these listings has been 230 days. The combination of falling list prices and increasing days on market spell trouble for under capitalized home builders.**

First up there is my comparison with Active Listings for year to year.

For the 6th consecutive month Wake Forest has retained an absorption rate lower than the national average at 6.  For information on what the Absorption Rate means to you, whether buying or selling a homes, please feel free to give me a call or send me an email - I will be happy to assist you.

Wake Forest, NC maintains a healthy portion of sales within Wake County - it is noteworthy that the subdivision with the highest number of sales is Heritage which is located in Wake Forest.  For information on Heritage please feel free to contact me.

If you need assistance with any of these statistics or would like information for a more specific area of the Triangle please call me or email and I will be happy to compile those statistics for you. 

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!

2:34 PM - Jan. 4, 2009
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