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Wake Forest, NC Market Report for May 2008

Active Listings:

*May Statistics run through April 15, 2008

There were 1335 active listings for the month of May 2008* which includes townhomes and condos. In comparison, there were 1073 actives listing for the month of May 2007 (which were computed through June 15, 2007). An increase of 24% is noted.

Closed Listings:

Total closings since January 2008 through June 15, 2008 for Wake Forest is 652. Of those closings 18% had a price point of $400,000 or higher. The supply of homes in Wake Forest has dipped for the third consecutive month to a 10 month supply. Wake Forest is now tied with ITB (Inside The Beltline) for the HIGHEST absorption rates in Wake County.

Average days on market for Wake Forest was 108.

Additional Statistics: The top 2 subdivisions for closings in all of Wake County were located in NoRa and Wake Forest. They are Heritage (64 sales) and Hedingham (49 listings). These totals represent total number of closings since January 2008 for the particular neighborhood.

In comparison to the month of April 2008 and even going back to January of 2008 sales are picking up in the Wake Forest area!

For more information about what these statistics may mean to you as a buyer or seller please feel free to contact me!

Posted Saturday Jun 21
( 06/21/08 07:08AM ) — Pam Mabe

Good morning Leesa - That is great news for area, I believe our market is pickingup as well. Have a great week.

( 06/21/08 07:21AM ) — Don Rogers REALTOR®, CRS O'Fallon MO & St Charles County MO homes

Leesa,


What a great report with 18% of the sales being above the $400,000 mark, HMMMMM I might make a move to your neck of the woods.  Have a wonderful weekend.


Don R.

( 06/21/08 07:22AM ) — Stanton Homes - Penny Hull: Raleigh Area Custom Home Builder

Sure seeing a lot more activity.  All the news about interest rates going up by the end of the year... 

( 06/21/08 07:39AM ) — Leesa L. Finley, REALTOR® Wake Forest NC Homes

Pam - Activity has picked up here and is becoming more stable.


Don - 16% of the total were homes in the $300-$399 range.  Pretty cool, huh?


Penny - It was only a matter of time and yes, you're right, the interest rates edging up are a factor.

( 06/21/08 02:56PM ) — Debi Ernst GRI, e-PRO, Broker/Sales Associate

I'm glad to hear that sales are picking up!  They are picking up in the Lake St. Louis area, also.  Thanks for sharing!  :)

( 07/04/08 09:13AM ) — Christina Asad Edwards @ www.DaytonOhioHouse.com

Great post! Check out my Ohio Market Report here http://activerain.com/blogsview/573187/May-Market-Report


Christina

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