Wake Forest NC Market Update – November 2009

Fresh off the presses are the latest statistics for the housing market in Wake Forest NC.  Below are a few graphs that may help you understand the activity BUT, as always, if you have any questions regarding the information provided please feel free to give me a call!  I am always happy to help!

The first graph depicts the New Listings, Closed Sales and Total Inventory for Wake Forest NC.  As you can see, the total inventory of homes for sale in Wake Forest NC had a 25.1% decline when compared with the same time of year in 2008.  However, Sold Homes in Wake Forest NC were up 34.6%.  Is now the time to try and sell your home?  Undoubtedly – YES!

Wake Forest NC Market Update November 2009

The next graph illustrated the variance in both the Average Homes Sales Price and the Median Homes Sales Price.  What’s the difference? 

Average Sales Price:  the total dollar amount of homes sold added together and then divided by the number of homes sold.  EX:  5 houses with sales prices of $225,000, $271,000, $249,000, $273,000 and $255,000.  Average Sales Price = $254,600.

Median Sales Price:  the middle price range of homes sold.  Using the example above or $225,000, $249,000, $255,000, $271,000 and $273,000 the Median Sales Price = $255,000.

Wake Forest NC Market Update November 2009

If you are looking for statistics more specific to a certain neighborhood such as your own please send me an email or give me a call at 919.649.6128 and I will be happy to provide you with the latest statistics.  It really is that easy!

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