Existing Home Sales in Winston Salem are Up for Sixth Consecutive Month

The Winston Salem housing market is on the increase, and that’s good news for real estate agents.  According to the Winston Salem Regional Association of Realtors there were 478 existing home sales for the month of June, which was up 10.4 percent from 433 in May.

This increase in sales made June the sixth consecutive month of increased sales and also the highest single month since September, 2008.

The association also reported that 320 of the homes sales were on the market less than 120 days.

Phillip Rector, the president of the Winston-Salem Regional Association of Realtors, was quoted saying, “When home sales increase month over month and the length of time it takes to sell a well maintained and appropriately priced home is decreasing, it tells us that the market has, indeed, begun a return to normalcy.”

However, in June 2008 there were 593 home sales compared to 478 last month.  That’s a 19.4% decrease from last year.

Even though, overall, this is good news, there are still many concerns with the unemployment rate and decrease in home prices.  The average price of homes sold in June was $162,503, down 9.7% from $179,889 in May and down 15.4% from $192,144 last year.

It looks like we are past the bottom in the Winston Salem housing market, and there seems to be a good balance for both buyers and sellers.  Homes are moving and taking less time to sell, which is good for sellers, but prices are lower than last year, so buyers should consider now the right time to buy before prices increase.  Give me a call/text if you are looking to buy or sell real estate in the Winston Salem area.  336-287-4423.