What is the moral of the story?

Whether buyer or selling anything, it is important to know how the market is doing.  Real estate is no different.  We hear the question a lot...how's the market doing?

Things are positive.  While inventory is still an issue, buyers are shopping and in the marketplace. Mortgage rates are low, new job announcements have started to come, infrastructure projects are well underway, quality-of-life is high and we still have some of the most affordable real estate in the North Carolina.  Our sales volume is up 30% year over year, of which we thank all of our clients for the business.  However, here is a quick snapshot of a few of the most recent metrics we watch:

All Triad MLS - this encompasses the 11 county Triad, NC region:

Median Sales Price (MSP) - $183,000

Median Days on Market (DOM) - 11

Percent of Sales price to List Price (SP%) - 99.1%

Now, let's take a look at four cities in the Triad and how they are doing.

Winston-Salem

MSP - $178,500

DOM - 10

SP% - 99.1%

Kernersville

MSP - $226,000

DOM - 6

SP% - 100%

High Point

MSP - $161,500

DOM - 8

SP% - 98.4%

Greensboro

MSP - $185,000

DOM - 10

SP% - 99.5%

The real estate market in the Triad is strong, stable, affordable and active.  The moral of the story is simple, if you are buying, BE READY and if you are selling or planning to sell, BE READY!