In conjuction with my recent Wake Forest NC Market Report for January 2009, I would like to offer one more graph for clarity.
The following graph represents Price Adjustments for the four counties that are included in the Triangle Multiple Listing Service. Those counties are Wake, Johnston, Orange and Durham. Some of the cities and towns that you will find in these counties are Durham, Chapel Hill, Clayton, Raleigh and, of course, Wake Forest. While I have used the term Price Adjustments the numbers really mean Price Drops. I, personally, just prefer the more gentle term of Price Adjustments.
Without much explanation (since the graph speaks for itself) it is clear that there have been abundant "price corrections". With an increase of 40% for price adjustments (same time year to year) it would seem that the local area is understanding that overpriced homes need to adjust. The local marketplace now demands properly priced homes AND homes that are market-ready!
Written by:
Leesa L. Finley, Broker, Realtor®
Circa Properties
919.649.6128 - direct and txt msg
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Leesa Finley the "Wake Forest NC House Chick"
Circa Properties
919-649-6128
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That's a lot going on this year and its just begun... Its just a total crazy situation right now. Hang in there....
Leesa,
That is great info, thank you for sharing.
Johnathan
kathy - as the months meander on I can tell that things will turn around - i just know it!
johnathan - you are more than welcome!