Name:  2013 Year End Wake County Housing Market Update

Wow!  Real Estate in the Triangle continues to be a buzz word and we are certainly enjoying the buzz here in Southwestern Wake County as well.  Our 2013 market finished strong with most areas showing 6 months or less of inventory.  I know here, at Front Porch Realty, we did not experience the usual “halt to real estate” over the holidays as in years past.

With a 13% increase in sales from 2012, Front Porch Realty is poised to sell some real estate!  In response to this increasing demand, we have added two new brokers to our team – one at each of our offices in Cary and Fuquay Varina.  We have also added a Luxury division with our Fine Homes by Front Porch branding.  Front Porch Realty will continue to market and provide excellent representation to our clients at all price points, with added specialty services for our luxury properties.

All of our markets are still showing a crossover to more of a seller’s or balanced market.  The year-end report shows at least a 20% increase of homes SOLD for almost the entire area. In addition, average sales price and price per square foot have gone up and days on market have all gone down.  It’s a great time to make a move!

I am no competitive cyclist, but I would like to recommend Torrenti Cycles  for all of your bicycle tune-up and repair needs.  Owner, Danielle Castelli, was quick and attentive to my online request for service.  I requested help with surprising my husband with a bike tune-up as a birthday gift.  I couldn’t miss her as she drove up in her very cool Torrenti Cycle big yellow van!  Yes, that’s right, she will come pick up your bike, repair it, and bring it back to you, all for a very competitive fair price.  She will also fix on site if you prefer!

I was very pleased with Torrenti Cycles professionalism and promptness.  And I wanted to make sure Wake County knows she is out there.   Whether you ride for fun or competitively, I believe Torrenti Cycles can be a great asset for peace of mind on the road or on the trail.

WOW! This is the 2nd time in less than a week that I tried to make an appointment to show a house that just came on the market but it was already under contract! Both of them SOLD in 4 days!  I believe we are having a big housing shortage of homes around $200,000-$250,000 in Southern Wake County, especially with a Master Bedroom on the first floor!

If you are thinking of selling in this price range please give us a call, it’s a great time to make a MOVE UP while mortgage rates are still at all time lows!

Front Porch Realty attended Mayor John Byrne’s, “State of the Town” address last week held at Golden Corral.  Mayor Byrne was excited to thank all in attendance for being such a vital part of making our growing town what it is. Fuquay-Varina boasts a strong economy and a financially sound government. He announced our 32% increase in single family housing construction permits and a new 50 acre shopping center off of NC Hwy 55 and Powell Road in Fuquay-Varina,.  Mayor Byrne stated that the shopping center’s developer cited the presence of sidewalks throughout the community as a key factor influencing his choice to develop in Fuquay. 

Mayor Byrne also talked about our town youth sports program and our recently celebrated Teen Day that drew more than 1000 teens (now that is an accomplishment!), and enthused about our town’s first dog park,  sharing that the free, 8 acre park has stayed very busy entertaining doggies from Fuquay Varina and  neighboring towns.

It was great to see the breakfast room filled with fellow business owners and chamber members.  A big thanks goes to Golden Corral for opening its doors early with breakfast for us all and to Spring Arbor Assisted Living for sponsoring this F-V Chamber of Commerce event.

Fuquay Varina Chamber of Commerce

Every quarter I compile sales data and statistics from our local Triangle MLS;  its a great way for me to analyze my pricing strategies and see our whole REAL real estate picture, usually backing up what I already could feel was happening in our Southern Wake real estate market.  Always good to have quantitative data to back up what you are buzzing about!

Below is a summary of our entire area; months of inventory along with average price per square foot and average days on market are all  improving, all good indicators of our appreciating market.

Sales by CITY Q3 2013

The following link shows a more detailed look at each of our city areas and their price ranges respectively.

Market Update Q3 2013

Our “summer” season lasted longer than usual as our Southern and Western Wake county markets have continued to appreciate and rebound.  All areas have lowered their months of inventory in most of their sales price ranges and we are showing balanced and even slight seller markets for some sales prices across the region.

This is good news for sellers, and continuing  great news for buyers as mortgage rates have stayed extremely low and mortgage companies are continuing to lighten up on lending.

If you would like to receive my Quarterly Market Update personally just let me know and I will be happy to add you to our email distribution and/or to our snail mail hard copy distribution.

-Welcome Home, laura