November 2018 Market Snapshot

Below are a few updates regarding home values and other data.  This data is for the entire Triad MLS:

-Median Sales Price - $171,750 - 10 year high

-Number of Homes for Sale - 5485 - 10 year low

-Median Days on Market - 21

-Months Supply of Homes - 3.1 (normal is closer to five or six months)

-Median Percent of List Price - 98.7% (homes are selling for this percent of list price)

-Average Showing/Listing - 4.7

Home Values and the Transportation Network?

Here is an interesting article from the Wall Street Journal.  There is a lot of road construction going on in North Carolina...from new interstate highways to road expansions to major road retrofits...all of which are a good thing for jobs and the economy.  However, it can be short-term pain for long-term gain.

In the Winston-Salem area there is a lot of money being pumped into the network and a brand new interstate highway is under construction and schedule to open within the next couple of years...I-74.  This is a major project which will connect SC and NC to the midwest of the United States and will open up a lot of new opportunity and investments from distribution facilities to new neighborhoods and all things in-between.  Below are some recent pics that NC Department of Transportation took of the project.

But what does it mean for home values in the area of the new interstate?  Would we see similar numbers from this report in our region?  It is hard to say right now, but IT IS accurate to say that an improved transportation network is good for the economy, mobility, growth, quality-of-life and many other things and therefore appreciation and values. But we'll have to wait and see how things go but nonetheless, we are optimistic about the future of home values.