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.
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