Following are charts representing the Wake Forest NC Real Estate Market Activity for the month of August 2010. The first chart reports the number of CLOSED sales for August 2010 versus August 2009. As noted on the chart the 31% decline in Sales when comparing the same time period from 2010 to 2009. In August 2009 there were 71 Homes Sold in Wake Forest NC and only 49 CLOSED sales in 2010.
The next chart reports the Average Sales Price and the Median Sales price again comparing August 2010 to August 2009. The Average Sales price has had a 9.7% increase in 2010 compared with 2009 however, the Median Sales Price has seen a 5.1% decrease when comparing the same time frame. Please note, there is a vast difference between the terms Average and Median. Median Sales Price is a more reliable indicator of market activity.
The following chart depicts the Inventory of Homes for Sale in Wake Forest NC. There has been a 2.5% increase in Homes on the Market in August 2010 when compared with August 2009.
Lastly, the price point chart gives the numbers of Homes for Sale in Wake Forest NC for various price points. For Wake Forest the most common price point is $200,000 – $299,999 with 312 properties for sale. Keep in mind, there is currently an Absorption Rate of 10 for this particular price point which means should NO other properties be listed in that price range it would take 10 months to sell the current inventory. An Absorption Rate of 10 is considered high.
If you have any questions regarding the statistics in the above charts, more specific statistics for a particular Neighborhood in Wake Forest NC or any Homes for Sale in Wake Forest NC please feel free to give me a call or simply send me an email – I would be happy to help!