WAKE FOREST AND ROLESVILLE AREA HOUSING MARKET DATA

There was an increase in total units sold in October, with 186 sold this month in Wake Forest and Rolesville Area Real Estate. This month's total units sold was higher than at this time last year.

Versus last year, the total number of homes available this month is lower by 28 units or 6%. The total number of active inventory this October was 410 compared to 438 in October 2023. This month's total of 410 is lower than the previous month's total supply of available inventory of 432, a decrease of 5%.

Last October, the median sale price for Wake Forest and Rolesville Area Homes was $577,048. This October, the median sale price was $462,350, a decrease of 20% or $114,698 compared to last year. The current median sold price is 10% lower than in September.

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

In October, there was 2.2 months of supply available in Wake Forest and Rolesville Area, compared to 3.7 in October 2023. That is a decrease of 41% 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.

This month there were 173 homes newly listed for sale in Wake Forest and Rolesville Area compared to 183 in October 2023, a decrease of 5%. There were 142 current contracts pending sale this October compared to 132 a year ago. The number of current contracts is 8% higher than last October.

In October, the average sale price in Wake Forest and Rolesville Area was 98.9% of the average list price, which is similar compared to a year ago.

This month, the average number of days on market was 49, lower than the average last year, which was 87, a decrease of 44%.





FOCUS ON: WAKE FOREST AND ROLESVILLE AREA HOUSING MARKET			OCTOBER 2024

Zip Code(s): 27587 and 27571
Units Sold 186	Active Inventory 410	Median Sale Price $462,350	Days On Market 49

Up Vs. Year Ago	Down -6% Vs. Year Ago	Down -20% Vs. Year Ago	Down -44% Vs. Year Ago


		Units Sold There was an increase in total units sold in October, with 186 sold this month in Wake Forest and Rolesville Area Real Estate. This month's total units sold was higher than at this time last year.
Active Inventory Versus last year, the total number of homes available this month is lower by 28 units or 6%. The total number of active inventory this October was 410 compared to 438 in October 2023. This month's total of 410 is lower than the previous month's total supply of available inventory of 432, a decrease of 5%.
		Median Sale Price Last October, the median sale price for Wake Forest and Rolesville Area Homes was $577,048. This October, the median sale price was $462,350, a decrease of 20% or $114,698 compared to last year. The current median sold price is 10% lower than in September. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 173	Current Contracts 142	Sold Vs. List Price 98.9%	Months of Supply 2.2

Down -5% Vs. Year Ago	Up 8% Vs. Year Ago	No Change Vs. Year Ago	Down -41% Vs. Year Ago


		Months of Supply In October, there was 2.2 months of supply available in Wake Forest and Rolesville Area, compared to 3.7 in October 2023. That is a decrease of 41% 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 173 homes newly listed for sale in Wake Forest and Rolesville Area compared to 183 in October 2023, a decrease of 5%. There were 142 current contracts pending sale this October compared to 132 a year ago. The number of current contracts is 8% higher than last October.
		Sale Price to List Price Ratio In October, the average sale price in Wake Forest and Rolesville Area was 98.9% of the average list price, which is similar compared to a year ago. Days on Market This month, the average number of days on market was 49, lower than the average last year, which was 87, a decrease of 44%.


	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.
	Information 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.