Wake Forest NC – Local Market Update November 2009 – Numbers Don’t Lie

The latest Housing Statistics and Market Report are available for Wake Forest NC and I thought it would be an ideal time to share them with you!  I have a few graphs to show where we are now in 2009 and where we have come from.  The most interesting graph, which I consider a BENCHMARK, is eye-opening, to say the least, to Home Sellers in the Wake Forest NC area.

First up is the graph depicting the New Residential Listings in Wake Forest NC for 2008 vs. 2009.  There has been a 30% decrease in the number of Home Listings in Wake Forest NC overall.  In many instances that could be a very good thing for home sellers in Wake Forest NC – much less competition in the market!  

 

Wake Forest NC New Listings Year To Date Activity

 

The next graph illustrates the Year To Date for Closings in Wake Forest NC.  Again, we see a decline.  A 30.5% decline to be precise.  While the decrease in Closed Sales in Wake Forest NC could quite possibly be tandem with New Listings in Wake Forest NC I happen to think………..

 

Wake Forest NC Closed Sales Year To Date September 2009

 

the next graph is the most telling……   The Median Sales Price in Wake Forest NC has declined 13.6%.  That is a significant decline.  We are NOT in a market of 2005 – the real estate market has changed!  Home Prices in Wake Forest NC are reflecting a trend to a more sustainable level.  More thoughts after the graph…..

 

Median Sales Price Wake Forest NC Residential

 

So many times I, personally, have been face to face with a Home Seller in Wake Forest NC and have had to review comparables with them.  More often then not they are disheartened.  Numbers don’t lie.  While there may be a personal attachment to the home, precious memories, et cetera, it just isn’t going to make your home worth any more than your neighbors down the street.  And for Pete’s sake, please stop watching HGTVGranite Countertops will NEVER net you what they show you on TV.  

In today’s market, 2009 (soon to be 2010) you have to be aggressive with pricing!  It may not be what you want to hear but if you want to sell that house it’s realistic!  

If you are currently thinking of selling your home in the Wake Forest NC area then please give me a call!  I can show you what has happened in your neighborhood and help you to set a realistic goal!  I am Leesa Finley, I am the Wake Forest NC House Chick and I CAN sell your house!  

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