Wake Forest and Rolesville Area Housing Market Data

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.

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%.

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.

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.

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.

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.

This month, the average number of days on market was 47, higher than the average last year, which was 13, an increase of 262%.





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%.


	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.