Have you noticed that with this sellers market, finding the perfect home is becoming a bit of a challenge?
Although we are beginning to see a shift in the market, homes currently for sale are at a historical low. Builders are doing everything they can to be a part of that inventory demand. In areas like Wake Forest where land is still available to develop, we are seeing a lot of growth popping up everywhere.
We all feel the increase in traffic and notice new construction going up. Just how much more can we expect? Check out the interactive planning map for the Town of Wake Forest and you will see that there are 8 proposed new construction residential projects in the works right now (plus one apartment complex.)
This does not include what is already being built, but rather new, in-the-approval process projects. There is a 12 phase master-planned community off of Averette Rd, an apartment complex on Ligon Mill (which will have an effect on the Reynolds Mill and Pemberly neighborhoods). There is another on North White street that crosses into Franklin county. No one has a crystal ball, and some of these proposed communities may not come to fruition, but traffic flow and schools will be affected. Growth can be a good thing but we can’t ignore that it does have an impact on existing residents. Resale homes values are impacted by the number of new construction homes available. When we prepare to sell a home that surrounded by new construction, staging and marketing are vital to help appeal the broadest group of buyers . What a home offers in privacy, size and mature landscaping may not be enough by itself to compete with that “new paint smell” on a new home. If you are considering buying or selling, be sure to choose a real estate advisor that has their finger on the pulse of what’s happening in your community!