Market Report - Wake Forest NC
Wake Forest New Home Inventory Dropped Over 40%
Choices Getting Slimmer for New Home Buyers in Fall 2009
Looking for a new home in Wake Forest NC? Thinking the choices have gotten a little thinner? You're right....
New Home inventory in Wake Forest NC was down 42% in third quarter 2009 versus third quarter 2008.
New Home Listings by Price Point in Wake Forest NC
There were fewer new home listings in Wake Forest NC in every price point except $150-200K, which increased from 6 listings to 7 listings.
Only seven single family homes were listed in Wake Forest NC under $200K.
The $400-499K price range had the most significant reduction of Wake Forest NC new home choices - from 86 homes in 2008 to only 33 homes in third quarter 2009, a new home inventory reduction of 62%.
Wake Forest NC new homes in the $200-299K range saw a 39% reduction in inventory levels, from 87 to 53 new homes.
And new home listings in the $300-399K price range saw a 36% reduction, from 111 homes to 71 homes.
Overall New Home Listings in Wake Forest NC Third Quarter
In third quarter 2008, there were 556 new homes listed in Wake Forest NC.
In third quarter 2009, there were only 325 new homes listed in Wake Forest NC.
Builders are building fewer homes, and more home buyers are opting for completely custom packages, in every price point (which means the homes are not listed, but completed to the buyers exact specifications).
What Price Points are getting the most showings in Wake Forest?
If you're looking to purchase in these price points, you'll have more competition for your new home.
$200-299K new homes in Wake Forest saw 50% more than the average number of showings in third quarter 2009.
$800-999K new homes in Wake Forest saw more than double the average number of showings in third quarter 2009. Is there new interest in this price point?
Compare With Other Areas of the Triangle
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