The Fonville Morisey Market Minute

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

Zip Code(s): 27587 and 27571
Units Sold
151
Active Inventory
557
Median Sale Price
$330,000
Days On Market
77
Down -17%
Vs. Year Ago
Up 1%
Vs. Year Ago
Up 4%
Vs. Year Ago
Up 4%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in December, with 151 sold this month in Wake Forest and Rolesville Area versus 156 last month, a decrease of 3%. This month's total units sold was lower than at this time last year, a decrease of 17% versus December 2017.

Active Inventory
Versus last year, the total number of homes available this month is higher by 3 units or 1%. The total number of active inventory this December was 557 compared to 554 in December 2017. This month's total of 557 is lower than the previous month's total supply of available inventory of 610, a decrease of 9%.

Median Sale Price
Last December, the median sale price for Wake Forest and Rolesville Area was $316,671. This December, the median sale price was $330,000, an increase of 4% or $13,329 compared to last year. The current median sold price is 8% lower 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
126
Current Contracts
125
Sold Vs. List Price
98.4%
Months of Supply
3.7
Down -7%
Vs. Year Ago
Down -13%
Vs. Year Ago
No Change
Vs. Year Ago
Up 21%
Vs. Year Ago

Months of Supply
In December, there was 3.7 months of supply available in Wake Forest and Rolesville Area, compared to 3.0 in December 2017. That is an increase of 21% 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 126 homes newly listed for sale in Wake Forest and Rolesville Area compared to 135 in December 2017, a decrease of 7%. There were 125 current contracts pending sale this December compared to 143 a year ago. The number of current contracts is 13% lower than last December.

Sale Price to List Price Ratio
In December, the average sale price in Northampton County was 94.8% of the average list price, which is higher than at this time last year.
Days on Market
This month, the average number of days on market was 216, lower than the average last year, which was 235, a decrease of 8%.
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.