Is Wake Forest, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Wake Forest is a seller's market

Buyer's
Market

Difference Since February 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

$528,272

$209/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$14,490(-2.7%)

Key Takeaway

Homes in Wake Forest have sold for 2.7% less than they did a year ago.

Summary: The median home sold price in Wake Forest was $528,272 in February 2024, down 2.7% from last year, and the median price per square foot was $209.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $272K$282K
+3.7%
2 $408.5K$349.8K
-14.4%
3 $420K$404.9K
-3.6%
4 $618K$637.2K
+3.1%
5+ $673.1K$681K
+1.2%

Summary: Wake Forest housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.7%, 2 bedroom homes decreased by 14.4%, 3 bedroom homes decreased by 3.6%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes increased by 1.2%.

Median Sold Price Compared To Nearby Cities

Youngsville Township
+1.7%
Rolesville
-0.1%
Wake Forest Township
-1.0%
Wake Forest
-2.7%
Neuse Township
-4.0%

Housing Supply in Wake Forest, NC

How many homes are available in Wake Forest, NC?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
398417+4.8%

Summary: The Wake Forest real estate market had 417 homes for sale in February 2024, a 4.8% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 1618
+12.5%
3 135153
+13.3%
4 164167
+1.8%
5+ 8379
-4.8%

Summary: The Wake Forest housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes decreased by 4.8%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
5481+50.0%

Asking Price vs. Sold Price

45 Homes Were Sold
Under Asking

21 Homes Were Sold
At Asking

15 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Wake Forest, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.

Summary: A total of 81 homes were sold or pending in Wake Forest in February 2024, up by 50.0% month-over-month. Of the 81 sold homes, 56% were sold under asking, 26% were sold at asking, and 19% 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

Feb 2023Feb 2024CHANGE
133 Days105 Days-21.1%

Summary: Homes in Wake Forest had an average of 105 days on market in Feb 2024, down by 21.1% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

40 Homes Were Sold
In 30 - 90 Days

36 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Wake Forest has remained consistent over time.

Summary: During February 2024, 81 homes were sold in Wake Forest; 6% of homes were sold within 30 days, 49% of homes were sold within 30 to 90 days, and 44% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

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