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Real Estate Market Conditions Category

Greensboro Real Estate Market Update

The Greensboro real estate market continues to be a mixed bag with total number of homes sold increasing 2.7% over the second quarter of this year but down sharply by 7.9% from this time last year.  Coupled with an increasing inventory of homes, this is an  indication of some stagnation creeping into the market. The number of homes offered for sale was flat from 2Q14 (up just 0.3%) but higher by 14% from the level one year ago. One piece of good...Continue Reading!

Greensboro NC Housing Market Report – April 2014

The housing market in the Greensboro area continued to slow in April with 342 homes exchanging hands during the month.  The number sold was down 2.8% compared to the level of sales recorded in March and a whopping 20.8% below the number sold during April one year ago! The average price of homes sold was up slightly at 0.4% and has gone up 5.9% over the last year.  Time on the market has fallen and the spread between the list and...Continue Reading!

Greensboro NC Housing Market Continues to Improve

The 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...Continue Reading!

Greensboro Real Estate Market Conditions – August 2013

The real estate market in Greensboro NC continues to show signs of improvement with 450 homes exchanging hands in August, up 1.1% from the month of July and a whopping 28.6% above August of 2012.  The average price of a home sold in Greensboro was up 0.9% and has risen over 9% in the last year, averaging $168,774.   Over the last 12 months, time on the market has fallen to just under 90 days on average and, good news for Sellers,...Continue Reading!

Greensboro NC Housing Update Q1 2013

We continue to see strong signs of recovery in our local Greensboro NC real estate market with volume up 20.5% over the same period last year and 5.6% above volume from the fourth quarter of 2012. Interestingly, there appears to be a shortage of inventory at certain price points with approximately 7.9 months of inventory on the market at the current sale pace.  The actual number of homes for sale was 15.1% below what it was just a year ago forcing...Continue Reading!

Mortgage Debt Relief Act Extension

Good news for homeowners who are struggling to make their mortgage payments.  Congress saw it fit, as part of the "fiscal cliff" deal,  to extend the Mortgage Debt Relief Act which was originally enacted in 2007.  This legislation provides necessary tax relief for homeowners attempting a short sale. If you are not familiar with a short sale, it is an option for homeowners who owe more on their mortgage than the fair market value of the property and who have encountered a...Continue Reading!

Which State Has The Most Affordable Mortgage Payments

North Carolina ranked in the middle of the road in terms of affordability of mortgage payments across the US at an average of $979 according to a study done by Lending Tree. The least expensive state in which to reside was Nebraska while the most costly area was Washington DC followed closely by Hawaii. For a view of the national map, click the image and compare to where you live!  Continue Reading!

Greensboro NC Real Estate Market Update July 2012

Perspective!  One thing that is true about the Greensboro NC real estate market is that there are as many opinions about the state of our local market as there are statistics to analyze it.  Obviously, it doesn’t take a rocket scientist to figure out that we have some definite challenges in front of our full recovery but no matter which media outlet you choose to get your information from, there are signs that the real estate market is improving. One question...Continue Reading!