It May Be Cold Outside, But The Real Estate Market is HOT!
To put it simply homes are selling! In the last 30 days in Greensboro, NC 186 single family homes sold. The ranged from as high as $745,000 to as low as $18,000. So to answer your next question homes in all price ranges are selling. Let’s see if I can guess your next question; how many townhomes and condominiums sold in the last 30 days? Well it was sixty! So were you advised to wait to list your home because people don’t buy homes in the winter?
If that is not enough information for you then how about these numbers; as of this moment there are 972 single family homes actively listed for sale in Greensboro, NC. Now if we just use the numbers I gave you in the paragraph above that means that we only have approximately 5.22 months worth of inventory on hand. Now let us put that in perspective; back during the real estate crash at one of the peaks of our inventory levels we had over fourteen and a half months worth of single family homes listed for sale. What you are now seeing is something that has not occurred in the Greensboro market in a long time. If the inventory drops any lower you are going to be experiencing a “SELLER’S MARKET”! Yes, that is true prices will start to rise.
I personally showed my buyers a resale home that had just been listed for sale for one day. It received THREE OFFERS that night! If a home is priced correctly and looks good it sells, and it sells quickly.
If you are a buyer looking for your next home then my advice is I hope your agent is not asleep at the wheel and is ready to move when you see that perfect home. Because if you blink it will be gone.