Is Wake Forest Township, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Wake Forest Township has remained a Seller's Market.
Key Takeaway
Wake Forest Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Wake Forest Township, NC
How much do homes in Wake Forest Township, NC cost?
Median Sold Price
$513,150
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Wake Forest Township have sold for 4.6% more than they did a year ago.
Summary: The median home sold price in Wake Forest Township was $513,150 in May 2024, up 4.6% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $220K | $291K | +32.3% |
| 2 Bedrooms | $300K | $371K | +23.7% |
| 3 Bedrooms | $395.2K | $399.9K | +1.2% |
| 4 Bedrooms | $581.8K | $594.6K | +2.2% |
| 5+ Bedrooms | $659K | $677K | +2.7% |
Summary: Wake Forest Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 32.3%, 2 bedroom homes increased by 23.7%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 2.7%.
Median Sold Price Compared To Nearby Cities
| Wake Forest Township | $490.4K | $513.1K | +4.6% |
| Neuse Township | $386K | $400K | +3.6% |
| Wake Forest | $525.7K | $539.2K | +2.6% |
| Youngsville Township | $414.9K | $425K | +2.4% |
| Rolesville | $547.9K | $525.7K | -4.1% |
Housing Supply in Wake Forest Township, NC
How many homes are available in Wake Forest Township, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 695 | 697 | 0.3% |
Summary: The Wake Forest Township real estate market had 697 homes for sale in May 2024, a 0.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 23 | 22 | -4.3% |
| 3 Bedrooms | 267 | 269 | +0.7% |
| 4 Bedrooms | 285 | 277 | -2.8% |
| 5+ Bedrooms | 120 | 129 | +7.5% |
Summary: The Wake Forest Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 4.3%, 3 bedroom homes increased by 0.7%, 4 bedroom homes decreased by 2.8%, and 5+ bedroom homes increased by 7.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 184 | 166 | -9.8% |
Asking Price vs. Sold Price
71 Homes Were Sold
Under Asking
59 Homes Were Sold
At Asking
36 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wake Forest Township, you may be able to get a good deal. 42.8% of homes here sold below asking price last month.
Summary: A total of 166 homes were sold or pending in Wake Forest Township in May 2024, down by 9.8% month-over-month. Of the 166 sold homes, 43% were sold under asking, 36% were sold at asking, and 22% were sold over asking.
Days on Market for Wake Forest Township, NC
How long does it take to sell a home in Wake Forest Township, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 105 Days | 22 Days | -78.3% |
Summary: Homes in Wake Forest Township had an average of 22 days on market in May 2024, down by 78.3% compared to last year.
Breakdown of Home Sale Times
131 Homes Were Sold
Under 30 Days
21 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Wake Forest Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 166 homes were sold in Wake Forest Township; 79% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
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