Is Wake Forest, 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 has remained a Seller's Market.
Key Takeaway
Wake Forest is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Wake Forest, NC
How much do homes in Wake Forest, NC cost?
Median Sold Price
$539,224
$212/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Wake Forest have sold for 2.6% more than they did a year ago.
Summary: The median home sold price in Wake Forest was $539,224 in May 2024, up 2.6% from last year, and the median price per square foot was $212.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $195K | $291K | +49.2% |
| 2 Bedrooms | $305K | $425K | +39.3% |
| 3 Bedrooms | $409.5K | $410K | 0.1% |
| 4 Bedrooms | $621K | $639.2K | +2.9% |
| 5+ Bedrooms | $670K | $711.7K | +6.2% |
Summary: Wake Forest housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 49.2%, 2 bedroom homes increased by 39.3%, 3 bedroom homes increased by 0.1%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes increased by 6.2%.
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, NC
How many homes are available in Wake Forest, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 560 | 551 | -1.6% |
Summary: The Wake Forest real estate market had 551 homes for sale in May 2024, a 1.6% decrease 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 | 20 | 17 | -15.0% |
| 3 Bedrooms | 206 | 206 | 0.0% |
| 4 Bedrooms | 246 | 231 | -6.1% |
| 5+ Bedrooms | 88 | 97 | +10.2% |
Summary: The Wake Forest 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 15%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 6.1%, and 5+ bedroom homes increased by 10.2%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 146 | 136 | -6.8% |
Asking Price vs. Sold Price
56 Homes Were Sold
Under Asking
51 Homes Were Sold
At Asking
29 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wake Forest, you may be able to get a good deal. 41.2% of homes here sold below asking price last month.
Summary: A total of 136 homes were sold or pending in Wake Forest in May 2024, down by 6.8% month-over-month. Of the 136 sold homes, 41% were sold under asking, 38% were sold at asking, and 21% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 116 Days | 24 Days | -79.1% |
Summary: Homes in Wake Forest had an average of 24 days on market in May 2024, down by 79.1% compared to last year.
Breakdown of Home Sale Times
107 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Wake Forest are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 136 homes were sold in Wake Forest; 79% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
Copyright © 2024 Triangle MLS, Inc. of North Carolina. All rights reserved. 
Copyright 2024 North Carolina Regional MLS LLC. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of North Carolina Regional MLS LLC (NCRMLS). All information is deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor this firm shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. NCRMLS will not be liable for any damage or loss resulting from use of the provided content or the products available through Portals, IDX, VOW, and/or Syndication. Recipients of this information shall not resell, redistribute, reproduce, modify, or otherwise copy any portion thereof without the expressed written consent of NCRMLS.