The Fonville Morisey Market Minute

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

Zip Code(s): 27587 and 27571
Units Sold
160
Active Inventory
627
Median Sale Price
$338,500
Days On Market
65
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 7%
Vs. Year Ago
Down -10%
Vs. Year Ago
No Change
Vs. Year Ago
Down -7%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 160 sold this month in Wake Forest and Rolesville Area versus 222 last month, a decrease of 28%. This month's total units sold was higher than at this time last year, an increase of 7% versus September 2017.
Active Inventory
Versus last year, the total number of homes available this month is lower by 73 units or 10%. The total number of active inventory this September was 627 compared to 700 in September 2017. This month's total of 627 is higher than the previous month's total supply of available inventory of 595, an increase of 5%.
Median Sale Price
Last September, the median sale price for Wake Forest and Rolesville Area was $339,000. This September, the median sale price was $338,500, which is similar compared to a year ago. The current median sold price is 4% lower than in August.

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


New Listings
201
Current Contracts
138
Sold Vs. List Price
98.9%
Months of Supply
3.9
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -15%
Vs. Year Ago
Down -16%
Vs. Year Ago
No Change
Vs. Year Ago
Down -17%
Vs. Year Ago

Months of Supply
In September, there was 3.9 months of supply available in Wake Forest and Rolesville Area, compared to 4.7 in September 2017. That is a decrease of 17% 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 201 homes newly listed for sale in Wake Forest and Rolesville Area compared to 237 in September 2017, a decrease of 15%. There were 138 current contracts pending sale this September compared to 165 a year ago. The number of current contracts is 16% lower than last September.
Sale Price to List Price Ratio
In September, 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 65, lower than the average last year, which was 70, a decrease of 7%.
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.