Wake County NC Real Estate Market Report December 2009

Time to take a look at the Wake County Market Report for December 2009.  

Below are the final numbers in December for detached homes as reported in our Triangle Multiple Listing Service which includes Apex, Cary, Fuquay Varina, Garner, Holly Springs, Raleigh, Wake Forest areas. 

Remember the graphs below in this Wake County December 2009 Market Report  are ONLY for detached homes in Wake County 

 

Active Detached homes for sale in Wake county during the month of December

 

Wake County Acitve homes for sale in the Triangle

 

Detached homes in Wake County that went under contract during the month of December

 

detached homes under contract in Wake county

 

Closed Detached homes (sold) in Wake County during the month of December

 

Wake County homes sold in the Triangle

 

The Market Indicator still points to homes for sale in Wake County as being in a buyers market

 

Market Indicator

 

Remember showings have to happen in order for our sales to take place.  So just how are we doing with showings?  Below is the report from CSS (Centralized showing service) indicating the total number of showings for all 4 counties of the TMLS area (Triangle Multiple Listing Service) up through Novemeber 2009 showings:

 

2009 Showings in the Triangle

Let’s look further into just which subdivisions are getting the lion share of showings in the Triangle… 

Top Showing subdivisions in the Triangle area

courtesy of Stacey P. Anfindsen

 

Don’t forget the $8,000 tax credit extension and expansion will affect the market in the next few months.  So don’t wait – with interest rates where they are and inventory levels starting to increase there hasn’t been a better time to buy or sell a home in the Triangle. 

 

Previous Market & Real Estate Reports;

Wake County November 2009 Market Report

Wake County October 2009 Market Report

Wake County 2nd quarter Market Report

Wake County Market Report June 2009

Wake County (Raleigh NC) Real Estate Report for May 2009

Raleigh NC Market Report June 2009

Cary Apex Morrisville NC Market Report

Wake County Final Market Report for May 2009

Raleigh NC (Wake County)

Wake County NC Real Estate Market Report November 2009

Time to take a look at the Wake County Market Report for November 2009.  

Below are the final numbers for detached homes as reported in our Triangle Multiple Listing Service which includes Apex, Cary, Fuquay Varina, Garner, Holly Springs, Raleigh, Wake Forest areas. 

Remember the graphs below in this Wake County November 2009 Market Report  are ONLY for detached homes in Wake County 

 

Active Detached homes for sale in Wake county during the month of November

Wake County Acitve homes for sale in the Triangle

This is an area we’re watching closely (active listings/ homes for sale in Wake County).  Unfortunalty November listings were off almost 12% compared to Wake County active listings for 2008.  That could seriously affect supply and demand.  If you’re considering whether of not now is a good time to jump in and put your home on the market – call us.

Detached homes in Wake County that went under contract during the month of November

detached homes under contract in Wake county in October 2009

Closed Detached homes (sold) in Wake County during the month of November

Solds in Wake County for October 2009

The Market Indicator still points to homes for sale in Wake County as being in a buyers market….

 

 

So now let’s look at everything here in the Triangle ~  from Townhomes, Detached, Condos, manufactured home, to double wides.  How do those numbers crunch out?

 

 

 

Wake county average sales price

 

 

 

 

The graph to the right represents everything Active & SOLD in Wake County for the past 3 months.  As you can see the average list price when taking into consideration all types of properties comes inched up over October.

 

 

 

 

 

average price per sq ft

 

 

The graph to the left represents the average price per square foot for all active detached listings Active & SOLD in Wake County for the past 3 months. 

*The sale price per square foot is computed by dividing the sale price for each property by the number of heated square feet for that property.  The sale price per square foot computations are summed and then divided by the number of properties sold in a given month.  

If no sale price is recorded, that property is not included in the calculations.  The Average Sale Price Per Square Foot report may be computed for a location specified by state, county, city, subdivision, or street. 

 

 

and lastly just how long are these properties taking to get to the closing table stamped SOLD?  The chart below shows that it took less time to get your home sold last month than in the past couple….

 

average DOM (days on the market) for Wake County

 

 

 

Previous Market & Real Estate Reports;

Wake County October 2009 Market Report

Wake County 2nd quarter Market Report

Wake County Market Report June 2009

Wake County (Raleigh NC) Real Estate Report for May 2009

Raleigh NC Market Report June 2009

Cary Apex Morrisville NC Market Report

Wake County Final Market Report for May 2009

Raleigh NC (Wake

 

Wake County Real Estate Market Report for October 2009

Time to take a look at the Wake County Market Report for October 2009.  

Below are the final numbers for detached homes as reported in our Triangle Multiple Listing Service which includes Apex, Cary, Fuquay Varina, Garner, Holly Springs, Raleigh, Wake Forest areas. 

Remember the graphs below in this Wake County October 2009 Market Report  are ONLY for detached homes in Wake County… 

 

Active Detached homes during the month of October

Wake County Acitve homes for sale in the Triangle

 

Detached homes that went under contract during the month of October

detached homes under contract in Wake county in October 2009

Closed Detached homes (sold)during the month of October

Solds in Wake County for October 2009

The Market Indicator still points to Wake County being a buyers market

Market Indicator

 

One of the things I like to watch is the showing activity for our area.  How are we doing with showings?  Below is the report from CSS (Centralized showing service) indicating the total number of showings for all of the TMLS area (Triangle Multiple Listing Service) for 2009 showings:

2009 Showings in the Triangle

 

Wake county average sales price

 

 

 

 

The graph to the right represents everything Active & SOLD in Wake County for the past 3 months.  As you can see the average list price when taking into consideration all types of properties comes down to just over $240,00 (as opposed to just over $388,000 for detached homes)

 

 

 

 

 

average price per sq ft

 

 

The graph to the left represents the average price per square foot for all active detached listings Active & SOLD in Wake County for the past 3 months. 

*The sale price per square foot is computed by dividing the sale price for each property by the number of heated square feet for that property.  The sale price per square foot computations are summed and then divided by the number of properties sold in a given month.  

If no sale price is recorded, that property is not included in the calculations.  The Average Sale Price Per Square Foot report may be computed for a location specified by state, county, city, subdivision, or street. 

 

 

Let’s explore just who’s inquiring into the Triangle Real Estate Market?  Below you’ll see just who’s making the most inquiries and from which states…

Inquiries by State

We’ll continue to watch as the news of the 1st time home buyers $8,000 tax credit has been extended and the tax extension to include everyone starts to seep in.  I think we could see a very active market here during the first quarter of 2010.

 

Wake County NC Real Estate Market Report July 2009

Time to take a look at the Wake County Market Report for July 2009.  

Below are the final numbers for detached homes as reported in our Triangle Multiple Listing Service which includes Apex, Cary, Fuquay Varina, Garner, Holly Springs, Raleigh, Wake Forest areas. 

Remember the graphs below in this Wake County July 2009 Market Report  are ONLY for detached homes in Wake County… 

 

Active Detached homes during the month of July

Wake County Market July 2009 report

Total detached homes under contract in July

Wake County Market July 2009 report

Total homes closed in July

Wake County Market July 2009 report

Home Sales surprised even the experts shooting up 3.6% – they had only expected 0.7% for July. Now we have five consecutive months of gains for Pending Home Sales and that’s the first time that’s happened since July 2003

Wake County Market July 2009 report

photo courtesy of T.A.R.R. report

Pending Home Sales surprised even the experts shooting up 3.6% – they had only expected 0.7%. Now we have five consecutive months of gains for Pending Home Sales and that’s the first time that’s happened since July 2003. Low mortgage interest rates and affordable home prices are what’s moving things upward.

Couple that with the Wall Street Journal reporting that inventories of active homes for sale on the market in 28 major metro areas fell 2.5% from June to July.  Compared to July 2008 these metro areas had inventory drop a whopping 27%.

The facts still points hard that when priced right the first time homes sold in fewer DOM and for more money – according to the T.A.R.R. report:

2nd quarter closings where the original list price equaled the final list price sold in an average of 49 days for 97% of list price as opposed to closings where the final list price was less than the original list prices took an average of 138 days to sell and for 88% of the original list price.”

So just which subdivisions in Wake County are sizzling?

Wake County (Raleigh Area) Market Report for July 2009
photo courtesy of T.A.R.R. report

So no matter where you are in your plans include a move to the wonderful Raleigh Triangle area let us know and we’d be please to send you our free relocation package.  Or even better how about starting to receive FREE e-mails containing only the Triangle Real Estate listings specifically set up to match YOUR needs?

In any event – we’re here.  So drop us a note or call – we’d love to chat!

Previous Market & Real Estate Reports;


Wake County 2nd quarter Market Report

Wake County Market Report June 2009

Wake County (Raleigh NC) Real Estate Report for May 2009

Raleigh NC Market Report June 2009

Cary Apex Morrisville NC Market Report

Wake County Final Market Report for May 2009

Raleigh NC (Wake County) April Market Report

Cary NC April Market Report

Raleigh NC (Wake County) February Market Report

Raleigh NC (Wake County) January Market Report

 

Wake county (Raleigh NC) 2nd quarter Market Report

The numbers are out for the Wake county 2nd quarter market reportWake county includes Apex, Cary, Fuquay Varina, Garner, Holly Springs, Raleigh, Wake Forest areas.

Wake County 2nd quarter Market report

There are 4401 active listings in Wake county with an average list price of $367,682 and the average days on market are124.

Let’s look at the showing traffic here in our Wake County (Raleigh, NC) 2nd quarter Market Report

TMLS showings for Wake County

 
So which neighborhoods or subdisions in Raleigh are the sizzling areas in this Wake County 2nd quarter Market Report

top selling subdivisions in Raleigh NC

According to Stacey Andfindsen in his T.A.R.R Report the median sales price/list price ratio for closings during this Wake County 2nd quarter Marlet report was 97.5%.  Last year at this time it was 98%.  Stacey goes on to say On agerage the current crop of sellers sold for more than they paid averaging a 3.62% per year gain.


So there we have it – the good, the bad, and the not so bad Wake county market report for the 2nd quarter in Raleigh, NC.

 

Wake County Real Estate Report for May 2009

Statistics are out for the Wake county area which includes Apex, Cary, Fuquay Varina, Garner, Holly Springs, Raleigh, Wake Forest areas.

The chart below shows very clearly where and what the appreciation values were for the various areas in the past 6 years.

May Statistics for Wake County areas

Chart below compares just how our market did this year over last – showing all sales (re-sales, new construction, condo’s and townhomes).  Remember that these are averages…

Wake sales comparison

 

Thanks to Stacey Andfindsen for some very interesting tidbits about our market here in Wake County. Here’s a recap of his findings:

  • There are +/-8,700 active Wake County listings. 188 are marked as short sales and 110 are marked as foreclosure
  • 96% of Wake County sales w/in the past 13 months were non-foreclosure
  • If you bought your home in 2003 or 2004 and sold it in the last 13 months your gain is the highest +3.87%. But if you bought in 2008 and sold within the same period your averaged a (loss) –1.2%.
  • In May of of 2007 in Wake county the average listing was 6.97% per year above prior purchase price as opposed to the average now of 4.37%.  40% of resales occurring during the first 5 months of the year did not reduce their original sale price and sold in an average of 42 days for 96% of list.  Those agent/sellers who struggled with initial list price paid a price. Re-sale houses where final list price was less than original list price sold in an average of 114 days at 96% of final list and 87% of original list.
  • Those resales where the original sales price was dropped sold in an average of 114 days at 87% of original list. OUCH!
  • Just over 3,400 (39% of total) of Wake County sellers have dropped price from original list with the average price drop around 7%
  • Average 1Q/09 sales price of a new home closed in TMLS increased 2% to $310,000
  • Average 1Q/09 sales price in Cary/Apex/Morrisville increased 4%

So there you have it – The Good – The Bad – and The not so Ugly recap of our Raleigh Market.

 


Previous Market & Real Estate reports;

Cary Apex Morrisville NC Market Report
Wake County Final Market Report for May 2009
Raleigh NC (Wake County) April Market Report
Cary NC April Market Report
Raleigh NC (Wake County) February Market Report
Raleigh NC (Wake County) January Market Report

 

Wake County NC Real Estate Market Report April 2009

Wake County NC Real Estate Market Report April 2009

Hard to believe we are headed into the 2nd quarter of 2009 already.  There’s been a lot of chatter about how the market feels like it’s improving here in the Triangle.  So I thought I would do some research and see just what is taking place.

Let’s start off with Wake County (we’ll explore Raleigh, Cary, Apex, and Holly Springs individually in a bit).  For the most part this area of our TMLS  (Triangle Multiple Lisiting Service) has stayed pretty active.  It’s an area with a lot pull. 

Below you’ll see what the market activity has been for the month.  These statistics are for detached homes only and the information comes from our Triangle Multiple Listing Service…

 

wake county

 

Pending

 

closed

Below is a market snapshot compliments of Stacey Anfindsen T.A.R.R. Report comparing this years 1st quarter to 2008…  (you’ll notice this report includes all activity not just detached homes)

wake county recap

Again, as I’ve mentioned before I believe that the showing activity of an area is also a good indicator of how the market is doing.  The chart below compares the showings in our TMLS for the past 3 years.  Interesting to see just what price ranges are getting the most showings in our market.

TMLS showings for 1st quarter

So there you have it.  Another report of the good, the bad, and the ugly.  I’m not seeing a big upswing yet.  But just as the chatter around here is saying – I’m feeling it too.

 

 

For additional Triangle Real Estate Market reports check out;

Market Reports for Wake County
Market Reports for Raleigh NC
Market Reports for Cary NC
Market Reports for Apex NC
Market Reports for Morrisville NC
Market Reports for Holly Springs
Market Reports for Fuquay Varina

One Solid Rock!About the author:  Pamela is with  The St. Peter HomeSelling Team at Prudential YSU Realty in the Triangle.

A team of passionate North Carolina Brokers dedicated to connecting their clients to success in home buying and home selling in the Triangle. 

Pamela can be reached via email at Pamela@RaleighHomesOnline.com or by calling (919) 645-2522.

 

For your real estate needs The St. Peter HomeSelling Team serves the following areas; Raleigh, Cary, Apex, Morrisville, Holly Springs, Fuquay Varina, Garner, Wake Forest
                                                 

search the Raleigh TMLS

Raleigh NC (Wake County) February Market Report

 

showings

February statistics are in for the Triangle area (see the graph below for the cities included in graphs showings).

Let’s start off by looking at the showings that took place last month. 

To get any real estate market jumping there at least needs to be buyers out looking at homes right?  

You’ll see in the graph to the left that showings dropped for the month of February this year over last – sadly a 33% drop.  Not encouraging news but there were still 54,336 showings logged in according to our CSS (Centralized Showing Service).

 

 

Below the graph will break down just where those showings were by city.  Raleigh still leads the pack but remember “Raleigh” refers to a large area of homes for sale here.  It covers from the Swift Creek area to N. Raleigh all the way up to Wake Forest. 

 

 

showings for Raleigh NC

 

But the question remains did any of those showings actually result in homes selling?  Let’s look at the numbers for Wake County as reported in our Triangle Multiple Lisitng service.  There the answer is yes but not even close to last year’s numbers as you’ll see from my chart below. 

 

 

Next let’s take a look at the complete breakdown of what was sold here in Wake County for February (including sales not reported in the TMLS report).  The chart below is courtesy of Stacey Anfindson – T.A.R.R Report. 

Compare these facts with January’s market trends and our market is really getting off to a slow start this year.

 

TARR Report

 

So there you have it – the not so great news coming out of the Raleigh Real Estate market for February.  But hope runs eternal and as our spring market starts to gear up I’m confident that the March numbers will show a marked improvement.

In the meantime should you have any questions about buying or selling a home in the Raleigh Area call us – we’re your connection to Raleigh Real Estate!

 

 

 

One Solid Rock!About the author:  Pamela is with  The St. Peter HomeSelling Team at Prudential YSU Realty in the Triangle. 

A team of passionate North Carolina Brokers dedicated to connecting their clients to success in home buying and selling in the Triangle. 

Pamela can be reached via email at Pamela@RaleighHomesOnline.com or by calling (919) 645-2522.

For your real estate needs The St. Peter HomeSelling Team serves the following areas; Raleigh, Cary, Apex, Morrisville, Holly Springs, Fuquay Varina, Garner, Wake Forest

 

                                       search the Raleigh TMLS