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Greensboro NC Housing Market Continues to Improve

Greensboro Homes For SaleThe housing market in the Greensboro NC area continues to show signs of improvement according to a report issued by the Greensboro Regional Realtors Association from analysis done by Jud and Associates.

While housing sales slowed in Greensboro during the 3rd quarter, the average sales price inched up to $163,708 – a 10% improvement over where we were this time last year.  This compares to a 14.4% improvement nationally.  The overall number sold was 11% lower than the 2nd quarter and 1.1% below the same period in 2012 indicating a slight softening in the market which may be due in part to the small rise in interest rates and waning public confidence in the US economic climate.

The inventory to sales ratio was up substantially according to the report – at the current sales pace, it would take 10.9 months to exhaust the current inventory.   The average length of time to sell a home in Greensboro was just over 90 days, down 3.7% from the 2nd quarter.  In addition to taking less time to sell a home in Greensboro, sellers are taking less of a discount on their homes as well indicating a greater sense of equilibrium in the market place.

Home in the largest zip code (27410) accounted for 15.9% of all sales in Guilford County followed by 27455 at 10.8%.  The most expensive homes sold were in Oak Ridge zip code of 27310 at almost $400K with 4.6% of overall sales.

If you are interested in a full copy of the report or more details on your particular zip code, just let us know and we’ll be happy to provide that information.  Would you like to know more about sales in your specific neighborhood –  just request your complimentary Market Snapshot and we’ll send you a copy!

 

 

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