Is Wake Forest, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Wake Forest has remained a Seller's Market.
Key Takeaway
Wake Forest is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Wake Forest, NC
How much do homes in Wake Forest, NC cost?
Median Sold Price
$539,648
$210/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in Wake Forest has remained the same since last year.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $195K | $291K | +49.2% |
| 2 Bedrooms | $357.5K | $392K | +9.7% |
| 3 Bedrooms | $419.4K | $405K | -3.4% |
| 4 Bedrooms | $625K | $641.6K | +2.7% |
| 5+ Bedrooms | $682.4K | $683K | 0.1% |
Summary: Wake Forest housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 49.2%, 2 bedroom homes increased by 9.7%, 3 bedroom homes decreased by 3.4%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 0.1%.
Median Sold Price Compared To Nearby Cities
| Wake Forest Township | $500.1K | $509.9K | +2.0% |
| Youngsville Township | $414K | $422.5K | +2.0% |
| Wake Forest | $539.8K | $539.6K | 0% |
| Rolesville | $551K | $545K | -1.1% |
| Neuse Township | $394.6K | $384.2K | -2.7% |
Housing Supply in Wake Forest, NC
How many homes are available in Wake Forest, NC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 450 | 456 | +1.3% |
Summary: The Wake Forest real estate market had 456 homes for sale in March 2024, a 1.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 21 | 25 | +19.0% |
| 3 Bedrooms | 162 | 167 | +3.1% |
| 4 Bedrooms | 179 | 177 | -1.1% |
| 5+ Bedrooms | 88 | 87 | -1.1% |
Summary: The Wake Forest housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 19%, 3 bedroom homes increased by 3.1%, 4 bedroom homes decreased by 1.1%, and 5+ bedroom homes decreased by 1.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 97 | 92 | -5.2% |
Asking Price vs. Sold Price
41 Homes Were Sold
Under Asking
26 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wake Forest, you may be able to get a good deal. 44.6% of homes here sold below asking price last month.
Summary: A total of 92 homes were sold or pending in Wake Forest in March 2024, down by 5.2% month-over-month. Of the 92 sold homes, 45% were sold under asking, 28% were sold at asking, and 27% were sold over asking.
Days on Market for Wake Forest, NC
How long does it take to sell a home in Wake Forest, NC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 121 Days | 104 Days | -14.4% |
Summary: Homes in Wake Forest had an average of 104 days on market in Mar 2024, down by 14.4% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
55 Homes Were Sold
In 30 - 90 Days
31 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Wake Forest has remained consistent over time.
Summary: During March 2024, 92 homes were sold in Wake Forest; 7% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 34% of homes were sold over 90 days.
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