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Existing Home Sales Up in Winston-Salem Area for Fifth Consecutive Month

January 2, 2012 By Leave a Comment

The Winston-Salem real estate market continues to improve as existing home sales were up in November, 2011. This was the fifth consecutive month that sales were up over the same month last year. 346 homes sold during November which was up 9% from a year ago. Home sales were also slightly up from October.

The increase in sales is obviously a good sign for the local housing market, however the average sales price is slightly lower. The average sales price for the month was $151,000 versus $164,000 for November, 2010.

Pricing has seemed to stabilize over the last several months, but the number of foreclosure properties continues to hold prices down. There are currently almost 500 bank owned properties in Forsyth County (NC). With lower prices and near record low interest rates, buyers are taking advantage of the current market.

With average home sales for December, the Winston-Salem area housing market will have it’s best sales year since 2008. There were 4522 houses sold in 2009 and 4560 homes sold in 2010. Through November, there have been 4266 houses sold. It looks like there will be over 4600 units sold in 2011. With these numbers, it appears the real estate market is slowly making a comeback. This should give sellers and real estate agents something to look forward to in 2012.

If you’re thinking about selling your home in the Winston-Salem, Clemmons or Lewisville area, be sure to check out our Digital Marketing Strategy that gets your home SOLD!

 

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October 2011 Home Sales Were Up in Forsyth Co.

December 14, 2011 By Leave a Comment

The Winston-Salem Regional Board of Realtors recently reported that October 2011 home sales were up 11% compared with the same month last year.  That’s six consecutive months of growth over the same period for 2010.  I believe that is a great sign for our local real estate market.

WSRAR Board chief executive, Glenn Cobb, was quoted saying “Pending home sales indicate that 2011 will be the best total units sold in our market since 2008.  There were 4,522 units sold in 2009 and 4,560 units sold in 2010. Below-average sales in November and December would still cause total sales for the year to be over 4,600.”

He also said the data suggests that existing-home sales hit bottom in the Forsyth County area in 2009, with a small improvement in 2010 and additional growth in 2011.

The average sales price dropped slightly by 5.3 percent to $151,534 in October compared with $160,000 in October 2010. The average sales price in September was $158,700.

If you are wondering what your home might sell for in today’s market, be sure to click the “What’s My Home Worth” image on the right sidebar, and I will provide you with our “cyber market analysis”.

Filed Under: Housing Market, Real Estate Market Statistics, Real Estate News, Winston Salem Real Estate Tagged With: , ,

October 2011 Existing-Home Sales Rise, Unsold Inventory Declines

November 22, 2011 By Leave a Comment

National Association of Realtors logoThe National Association of Realtors® released their latest housing market statistics for October, 2011 yesterday.  Lawrence Yun, NAR chief economist, said the market has been fairly steady but at a lower than desired level.  He reported that existing-home sales improved in October while the number of homes on the market continued to decline.

Total existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, rose 1.4 percent to a seasonally adjusted annual rate of 4.97 million in October from a downwardly revised 4.90 million in September, and are 13.5 percent above the 4.38 million unit level in October 2010.

All-cash sales accounted for 29 percent of purchases in October, little changed from 30 percent in September and 29 percent in October 2010; investors make up the bulk of cash transactions.

Investors purchased 18 percent of homes in October, compared with 19 percent in September and 19 percent in October 2010. First-time buyers accounted for 34 percent of transactions in October, up from 32 percent in September; they were 32 percent in October 2010.

Single-family home sales increased 1.6 percent to a seasonally adjusted annual rate of 4.38 million in October from 4.31 million in September, and are 13.8 percent higher than the 3.85 million-unit pace one year ago. The median existing single-family home price was $161,600 in October, which is 5.8 percent below October 2010.

Existing condominium and co-op sales were unchanged at a seasonally adjusted annual rate of 590,000 in October but are 10.5 percent above the 534,000-unit level in October 2010. The median existing condo price5 was $160,300 in October, down 1.5 percent from a year ago.

In the South, existing-home sales increased 2.1 percent to an annual level of 1.94 million in October and are 14.1 percent above a year ago. The median price in the South was $145,700, down 1.6 percent from October 2010.

Read the entire report at the link below.

October 2011 Housing Market Statistics by the National Association of Realtors®

 

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Home Sales and Prices Expected to Increase in 2012 According to NAR

November 17, 2011 By Leave a Comment

Modest Volume, Price Gains Projected in Housing Market Next Year By National Association of Realtors Chief Economist

The housing recovery will continue on its slow but steady pace over the next couple of years, NAR Chief Economist Lawrence Yun said recently at the REALTORS® Conference & Expo Economic Issues & Residential Real Estate Business Trends forum.
November 2011 | By Robert Freedman, NAR

 

NAR Chief Economist Lawrence Yun predicted home sales would increase by 4 percent next year and home prices would inch up 2 percent during the Economic Issues & Residential Real Estate Business Trends forum Friday morning. In 2013, [Read more...]

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Forsyth County Home Resales Up from August Last Year

September 24, 2011 By 1 Comment

Forsyth County Home Sales are up in August 2011August 2011 existing home sales were up from last year by 21.5%, but dropped just over 8% from July 2011.  There were 354 sales last August compared to 430 home sales this year.  There were 469 sales in July 2011.  The average sales price was slightly lower this year at [Read more...]

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Forsyth County Existing Home Sales Up Over 34% from Last Year

August 30, 2011 By Leave a Comment

The Winston-Salem area real estate market is “moving on up”.  George Jefferson would be pleased to see Forsyth County’s existing home sales up 34.4% in July compared to sales last July.  469 homes sold last month versus 349 a year ago, according to the local Triad Multiple Listing Service.  Now, that’s the way to “get the lead out Weezie!” as George would say.   [Read more...]

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Is Home Ownership Still the American Dream?

March 30, 2011 By Leave a Comment
Is home ownership part of the American Dream?

Is home ownership part of the American Dream?

After all of the negative news regarding the real estate market the last few years, some people ask,  ”Is home ownership still part of the American Dream?”  And I proclaim with confidence a resounding “Yes!”  So why does home ownership matter so much to people?  Studies show that home ownership has a significant and very positive impact on net worth, educational achievement, civic participation, health and overall quality of life.  The National Association of Realtors did a recent survey, and here are some reasons why homeownership matters to people:   [Read more...]

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What’s the Best Real Estate Market in the Country?

March 17, 2011 By Leave a Comment

North Carolina real estate markets continue to be some of the best in the country. Areas where unemployment is lower than the national average will help lead the housing recovery. Builder Magazine has identified the Raleigh-Cary North Carolina area as the place to be for those in the construction industry. Downtown Raleigh Night Time Skyline

Existing home prices rose 4% in 2010 and building permits rose 85% during the year to 8600. Projections are for 9604 building permits in 2011. People are still flocking to Raleigh because of the improving jobs climate. The unemployment rate fell to 8.4%.

There are currently 4040 homes for sale in Raleigh and 948 for sale in Cary, NC.
Search Raleigh and Cary Homes for Sale

Durham-Chapel Hill is ranked third best with building permits up 70%, and their unemployment below 7.5%

There are currently 916 homes for sale in Chapel Hill, NC and 2052 in Durham, NC. Search Durham and Chapel Hill Homes for Sale

Builder Magazine Reports Raleigh is the Best Housing Market

If you are looking to move to any other area of North Carolina, you need a trusted Realtor. We have strong connections with top producing real estate agents all across the state, and we love helping people! Feel free to call our office at 336.462.9544 or call/text Tony @ 336.287.4423 to let us help you find a real estate agent in our trusted Realtor network.

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Winston-Salem on Affordable Housing Markets in College Towns List

November 17, 2010 By 2 Comments

College bound students may not be so concerned about how much their housing is going to cost, but obviously their parents are.  And with one in college, and one going next year, trust me, I know!  Many parents of college students are weighing the costs of on-campus dorm fees or rent  versus investing in a property for their son or daughter to live in.  Parents of students at Wake Forest, Winston-Salem State, Salem College, or even Forsyth Tech should consider

A recent survey has shown an increase in parent investors in college towns.   The Top Five Most Affordable Markets in College Towns are below followed by each market’s average list price for 4 bedroom, 2 bath homes.

  1. Ball State University, Muncie, Indiana:  $105,115
  2. University of Buffalo, Buffalo, New York:  $117,223
  3. University of Memphis, Memphis, Tennessee:  $135,090
  4. University of South Carolina, Columbia, South Carolina:  $137,707
  5. University of Akron, Akron, Ohio:  $139,711

Winston Salem’s own Wake Forest University rolled in at #31 with the average home listing price of $185,020.  And with Winston-Salem being the city with the lowest cost of living, it makes a lot of since to go to school here.  After all, you’re paying almost $50k per year for your child to go to school here, so you better look to save somewhere!

Do you know parents who have decided to invest rather than rent or pay dorm fees?  Don’t hesitate to provide your feedback below.

Most Affordable and Most Expensive Housing Markets in College Towns

Filed Under: Housing Market, North Carolina, Real Estate Investing, Real Estate Market Statistics, Statistics, Winston Salem, Winston Salem Real Estate Tagged With: , , , , , , , ,

Forsyth County Home Sales Up for 2010

August 2, 2010 By Leave a Comment

The national housing market continues to be sluggish, however our area has outpaced the state and national numbers. Home sales are up in Forsyth County over 17% from June 2009. 563 homes sold in June, 2009 according to our local real estate board, the Winston Salem Regional Association of Realtors (statistics provided by Triad Multiple Listing System), compared to June 2009′s 478 home sales. Sales also increased over 6% from May, 2010.
Craftsman Bungalow Winston Salem Home House

Read the full article on JournalNow.com
Forsyth County Home Sales Up for 2010

If you are looking to sell your home in Winston Salem and would like to know what it’s worth, please contact us at 336.462.9544 for a current “highest home value analysis.”

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