Heritage Continues Leading Wake Forest Home Sales

Heritage Continues Leading Wake Forest Home Sales

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In the early 2000's, the Ammons family started development of Heritage Wake Forest.  Located on the site of an old dairy farm and over 2000 acres, it is one of the largest planned developments in the Triangle.  With a first class golf course, two community pools, over 7 miles of walking trails and 2000+ homes, Heritage offers something for everyone.  Over the past ten years, Heritage has been a leader in home sales in the greater Raleigh area.  Since 2005, home sales have averaged 214 homes/year (new construction and resale).  Since 2011 (after the "down years" of 2008-2010) home sales have jumped to average more than 250 homes sold each year.

2014 was no different for the Heritage sales monster.  The appeal of Heritage with its community amenities, walking trails, shopping, and schools continues to drive people to the area and to strong home sales.  There were 250 recorded home sales for Heritage Wake Forest in 2014.  Evenly split between new construction (126 homes sold) and resale homes (124 homes sold).

New construction homes ranged from $270,000 up to $630,000 with an average home price of $401,000.  The size of these homes ranged from 1976sqft up to 3819sqft with an average size of 2854sqft.  New home did not stay on the market for very long with a median number of days on market of 96 days.  Pricing on these properties had an average cost/sqft of $139.92.

Heritage resale homes in 2014 ranged in price from $218,000 up to $883,000 with an average price of $375,000.  These properties went from the smaller end at 1626sqft and all the way up to 8277sqft.  That comes out to an average size of 3027sqft.  REsale homes sold twice as fast as the new construction homes with a median number days on market of 46 days.  Resale homes continued to hold their value in the Heritage market with an average of $124.33/sqft.  

Heritage is getting close to being completed in terms of new construction with less than 150 lots left to build upon.  I would not be surprised that even when new construction comes to an end in Heritage that it doesn't continue to lead the field in the resale market.  

If you are looking to buy a home in the Wake Forest or North Raleigh areas, give the Kima Real Estate Group a call. We are located right her in the heart of Wake Forest and our team would welcome a chance to assist you with your real estate needs.  (Kima Real Estate Group services all areas of Wake County - Raleigh, Wake Forest, Cary, Apex, Holly SpringsFuquay Varina, Morrisville, Garner, Clayton, Youngville )

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Phone: 919-323-2616
Dated: January 18th 2015
Views: 701
About Chad: Buying a new house is one of the largest steps a person makes in their life; emotionally, physically...

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