The market in Wake Forest is continuing to trend upward in price and activity as are most of the Raleigh area submarkets. The city currently has a 3 to 8 month supply of homes on the market, depending on price point; they have been selling in about 80 days on average. This comes to us from real estate expert Randy Scherr.

General market indicators have been steadily climbing for the last 3 years with about 9000 closed properties in 2006.

And while Wake County sales activity is down 10 percent for new construction and 10 percent for resales, average prices are now at $370,000 for new construction and $325,000 for resales.

Experts expect a decent spring season and a good year overall.

Published: February 1, 2008

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