Wake Forest NC Market Report - February 2011
Here is the most recent Real Estate Market Report for Wake Forest NC. Please keep in mind that this information is specific to Wake Forest only so if you are searching for a more general recap on February 2011 statistics in Wake County please let me know and I can provide that information as well.
The first chart represents the various residential real estate price points and also includes Condos and Townhomes. While the overall average absorption rate for Wake Forest NC is 16 the price point with the most inventory and the highest absorption rate is the $400,000.00 - $599,999.00 range with an absorption rate of 26. Are you asking what an absorption rate is? Check out What Is An Absorption Rate and How Does It Affect You? for a great explanation.
Comparing 2010 to 2011 there has been a -25.9% decline in New Listngs and a 23.7% increase in Closed Sales. The Median Sales Price only adjusted .1% in the year to year comparison. The Average Sales Price however did show a slow decline by -2.1%.
If you have questions about what any of this information means to you, whether buying OR selling property, please give me a call or simply send me an email - I would be happy to answer any questions that you may have. If you would like more specific information about your subdivision I can prepare that report as well.
