The Fonville Morisey Market Minute

Focus On: Wake Forest and Rolesville Area Housing Market April 2018

Zip Code(s): 27587 and 27571
Units Sold
178
Active Inventory
563
Median Sale Price
$336,898
Days On Market
62
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 26%
Vs. Year Ago
Down -13%
Vs. Year Ago
Up 1%
Vs. Year Ago
Down -2%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in April, with 178 sold this month in Wake Forest and Rolesville Area versus 195 last month, a decrease of 9%. This month's total units sold was higher than at this time last year, an increase of 26% versus April 2017.
Active Inventory
Versus last year, the total number of homes available this month is lower by 81 units or 13%. The total number of active inventory this April was 563 compared to 644 in April 2017. This month's total of 563 is lower than the previous month's total supply of available inventory of 599, a decrease of 6%.
Median Sale Price
Last April, the median sale price for Wake Forest and Rolesville Area was $334,200. This April, the median sale price was approximately the same at $336,898. The current median sold price is 1% higher than in April 2017.

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


New Listings
247
Current Contracts
243
Sold Vs. List Price
99.2%
Months of Supply
3.2
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 6%
Vs. Year Ago
Up 44%
Vs. Year Ago
Up 0.6%
Vs. Year Ago
Down -31%
Vs. Year Ago

Months of Supply
In April, there was 3.2 months of supply available in Wake Forest and Rolesville Area, compared to 4.6 in April 2017. That is a decrease of 31% 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 247 homes newly listed for sale in Wake Forest and Rolesville Area compared to 233 in April 2017, an increase of 6%. There were 243 current contracts pending sale this April compared to 169 a year ago. The number of current contracts is 44% higher than last April.
Sale Price to List Price Ratio
In April, the average sale price in Wake Forest and Rolesville Area was 99.2% of the average list price, which is 0.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 62, lower than the average last year, which was 63, a decrease of 2%.
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 Fonville Morisey'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 Fonville Morisey Real Estate, Inc.