Price of Homes Sold Increase almost 7% in Guilford County

"The seasonally adjusted average home price in Guilford County in March 2014 was $171,143, a 6.7% increase over March 2013’s average of $160,344 according to monthly figures prepared by Dr. Donald Jud of Jud & Associates for the Greensboro Regional REALTORS® Association.  Existing home prices in this cycle bottomed in March 2012 and have since risen 13.4%.  

In March 2014, the Time On Market (TOM) was 97.2 days, 2.6% less than it was in March 2013.  Over the past 12 months the TOM has fallen and the spread, which shows the ratio of selling to listing prices, has risen, indicating somewhat less discounting in the market.

Sales of existing, single-family homes in Guilford County decreased slightly during the month of March compared to the previous month.  A total of 358 units sold in Guilford County in March 2014 and 370 sold in February 2014.

The inventory/sales ratio, which indicates the number of months to clear the current inventory of homes on the market, was 7 months, up slightly from the 6.7 in February 2014.
“Selling price continues to steadily increase and more homes are coming onto the market,” says Marian Stafford, 2014 GRRA President.  “As we head into the spring home-buying season, whether you are in the market to buy or looking to sell, now is the time to contact a Greensboro REALTOR® to help you through the process.”

The Greensboro Regional REALTORS® Association, Inc. is a non-profit organization whose mission is to support its members in their business pursuits by promoting the highest professional ethics and being the primary provider for quality services, education and real estate information in the market area."
A Press Release

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