Is Wake Forest, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Wake Forest has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $272K | $282K | +3.7% |
2 Bedrooms | $408.5K | $349.8K | -14.4% |
3 Bedrooms | $420K | $404.9K | -3.6% |
4 Bedrooms | $618K | $637.2K | +3.1% |
5+ Bedrooms | $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 | $413K | $419.9K | +1.7% |
Rolesville | $550.5K | $549.9K | -0.1% |
Wake Forest Township | $505.2K | $499.9K | -1.0% |
Wake Forest | $542.7K | $528.2K | -2.7% |
Neuse Township | $396K | $379.9K | -4.0% |
Housing Supply in Wake Forest, NC
How many homes are available in Wake Forest, NC?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
398 | 417 | +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
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 16 | 18 | +12.5% |
3 Bedrooms | 135 | 153 | +13.3% |
4 Bedrooms | 164 | 167 | +1.8% |
5+ Bedrooms | 83 | 79 | -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 2024 | Feb 2024 | CHANGE |
---|---|---|
54 | 81 | +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
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 2023 | Feb 2024 | CHANGE |
---|---|---|
133 Days | 105 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
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.