Past Market Updates

Market Commentary

June was a solid month for sellers in Stonegate, with five resale homes closing at an average of $554,400 and 97.6% of original list price. Two of those five sold above their original price, and the other three closed after modest reductions. Across Wake Forest, 149 resale homes closed in June at an average of $603,295 and 97.7% of original list, which puts Stonegate right in step with the city as a whole. The takeaway for Stonegate homeowners is that pricing drove results. The homes that came to market at the right number moved quickly (one went under contract in two days and another in seven), while the homes that needed a reduction still sold within about two months. Buyers were active in June, and they paid close to asking for homes that matched the market. New construction in Stonegate had no June closings, although buyers put two builder homes under contract during the month. Across Wake Forest, 43 new construction homes closed in June at an average of $558,764 and 96.4% of original list. Whether you plan to sell your home, buy one, or do both at the same time, the Stonegate numbers reward a plan built on the market as it stands today. We track every listing and every closing in the neighborhood each month, and we are glad to walk you through what these numbers mean for your home. Sales data: Doorify MLS

Market Commentary

Wake Forest has inventory, and it's building. 467 active listings, 262 under contract, and resale homes averaging 55 days on market before moving. The median sold price in March was $520,000, basically flat from a year ago. Price per square foot closed at $202. Sellers are getting about 97 cents on the original list price dollar, and 26% of active listings in the 27587 zip have already taken a price cut averaging 5%. New construction is driving most of that pressure. Builders are cutting more often and deeper than resale sellers. Stonegate is a tighter story. 11 active listings split between resale and new construction. Resale homes here have a median around $467K and are averaging 28 days on market. New construction in the neighborhood is priced higher, closer to $665K, reflecting the larger floor plans coming out of the newer phases. The broader market data is clear that neighborhoods with less new construction competition hold their value better for resale sellers and Stonegate fits that profile. The bottom line: Stonegate isn't immune to market dynamics, but it's holding its own. Inventory is low, demand is steady, and homes that are priced right are not sitting. If you've been thinking about making a move, in or out of the neighborhood, right now is a smart time to have that conversation.

Market Analytics