Greensboro Triad Real Estate Blog

We still seem to be keeping even with closings and new listings.  The numbers below do not reflect new construction which will account for more home sales.  The current trends show that the average days on market and percentage of list to sales price is staying the same. 

New  Listings   Avg List Price  Pending   Avg List Price  Closed Homes  Avg Sales Price   %SP/LP Avg  DOM 

  1017             $210,162        525        $173,817           482               $179,704           96.87%    90

Another trend that is showing is the price of the homes that are selling in volume right now is the lower priced homes for the first time home buyers.  These homes are in the low $100,000 or below.  This of course will then skew the average closing price for homes sold in the Triad.

The June 2008 statistics on Guilford County continue to show a steady market that remains to be a buyers market.  Although the ratio of new homes listed versus the combinations of pendings and closings is starting to close the gap.  This will eventually bring the inventory levels down as buyers continue to find those deals and move forward to buy.   

RESIDENTIAL HOME SALES:    New Listings   Pending Contracts  Closed Homes   Avg DOM  % SP vs LP

                               June          1018               540                     548              86             96.67%

                                YTD          6468              3257                    2810            93              96.67%

We can see a trend now from May and now June were the home sales is picking up pace and starting to eat away at the surplus of homes for sale.  In past months new homes listed outpaced the selling side.  Also the prices have gone up. Where as the average closing price YTD is $180,485 in June the average closing price was $193,044!  So we are actually seeing some larger priced homes move.  Many of the transactions are first time buyers and investors but, to see the closing price creeping toward the $200,000 mark means to bring the average up like that some higher end homes are moving also.

The Days on Market fell last month to an average of 86 from a high in April of 102.    As I have experienced with my buyers they have realized that there are more and more buyers coming into the market.  Homes they have been looking at that they really liked are being bought out from under them.  Which is really an eye opening experience and is good for business since then they do not procrastinate.

Now these statistics are just for Single Family Homes so we are not even speaking of the condo/townhome market.  So the homes coming into the market place are moving right on out.  So as I have stated many times in the past IF YOU PRICE IT RIGHT IT WILL SELL!!

The update stats on Guilford County are showing a steady pattern of sales. 

RESIDENTIAL HOME SALES:    New Listings   Pending Contracts  Closed Homes   Avg DOM  % SP vs LP

                               YTD          5449                 2713                  2239             95             96.69%

We have seen a steady trend in all aspects and actually last month saw a upward trend in closings.  While I personally have felt the presence of more buyers in the marketplace until I graphed it I could not verify the numbers.  As I have stated in blogs prior it is a buyers market and it seems they are starting to buy across the county.  T

The Days on Market has actually crept up a few days and the trend I am seeing is that the alot of the homes joining the market place are listed for over $210,000.  But, the average closing price YTD is $177,255.  This is showing what I have seen alot of our buyers are either first time home buyers jumping in on the lower end of the scale and a heavy influx of investors buying up the lower priced homes. 

Now these statistics are just for Single Family Homes so we are not even speaking of the condo/townhome market.  So the homes coming into the market place are moving right on out.  So as I have stated many times in the past IF YOU PRICE IT RIGHT IT WILL SELL!!