The Fonville Morisey Market Minute

Focus On: Wake Forest and Rolesville Area Housing Market December 2022

Zip Code(s): 27587 and 27571
Units Sold
114
Active Inventory
292
Median Sale Price
$580,000
Days On Market
47
Down
Vs. Year Ago
Up 173%
Vs. Year Ago
Up 25%
Vs. Year Ago
Up 262%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in December, with 114 sold this month in Wake Forest and Rolesville Area . This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is higher by 185 units or 173%. The total number of active inventory this December was 292 compared to 107 in December 2021. This month's total of 292 is lower than the previous month's total supply of available inventory of 325, a decrease of 10%.

Median Sale Price
Last December, the median sale price for Wake Forest and Rolesville Area was $463,475. This December, the median sale price was $580,000, an increase of $116,525 compared to last year. The current median sold price is higher than in November.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
76
Current Contracts
74
Sold Vs. List Price
98.7%
Months of Supply
2.6
Down -42%
Vs. Year Ago
Down -46%
Vs. Year Ago
Down -3.5%
Vs. Year Ago
Up 383%
Vs. Year Ago

Months of Supply
In December, there was 2.6 months of supply available in Wake Forest and Rolesville Area, compared to 0.5 in December 2021. That is an increase of 384% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 76 homes newly listed for sale in Wake Forest and Rolesville Area compared to 132 in December 2021, a decrease of 42%. There were 74 current contracts pending sale this December compared to 136 a year ago. The number of current contracts is 46% lower than last December.

Sale Price to List Price Ratio
In December, the average sale price in Wake Forest and Rolesville Area was 98.7% of the average list price, which is 3.6% lower than at this time last year.
Days on Market
This month, the average number of days on market was 47, higher than the average last year, which was 13, an increase of 262%.
 The Fonville Morisey Market Minute Wake Forest and Rolesville Area are defined as properties listed in zip code/s 27587 and 27571.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by TRIANGLE and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of TRIANGLE or Long & Foster Real Estate, Inc.