The Fonville Morisey Market Minute

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

Zip Code(s): 27587 and 27571
Units Sold
204
Active Inventory
570
Median Sale Price
$340,500
Days On Market
61
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 10%
Vs. Year Ago
Down -10%
Vs. Year Ago
Up 11%
Vs. Year Ago
Up 9%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in July, with 204 sold this month in Wake Forest and Rolesville Area versus 222 last month, a decrease of 8%. This month's total units sold was higher than at this time last year, an increase of 10% versus July 2017.
Active Inventory
Versus last year, the total number of homes available this month is lower by 66 units or 10%. The total number of active inventory this July was 570 compared to 636 in July 2017. This month's total of 570 is lower than the previous month's total supply of available inventory of 595, a decrease of 4%.
Median Sale Price
Last July, the median sale price for Wake Forest and Rolesville Area was $307,000. This July, the median sale price was $340,500, an increase of 11% or $33,500 compared to last year. The current median sold price is 1% higher than in June.

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


New Listings
236
Current Contracts
230
Sold Vs. List Price
99.2%
Months of Supply
2.8
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 5%
Vs. Year Ago
Up 19%
Vs. Year Ago
No Change
Vs. Year Ago
Down -19%
Vs. Year Ago

Months of Supply
In July, there was 2.8 months of supply available in Wake Forest and Rolesville Area, compared to 3.4 in July 2017. That is a decrease of 19% 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 236 homes newly listed for sale in Wake Forest and Rolesville Area compared to 224 in July 2017, an increase of 5%. There were 230 current contracts pending sale this July compared to 193 a year ago. The number of current contracts is 19% higher than last July.
Sale Price to List Price Ratio
In July, the average sale price in Wake Forest and Rolesville Area was 99.2% 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 61, higher than the average last year, which was 56, an increase of 9%.
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.