Price of Homes Sold Increase 4.2% in Guilford County

"Greensboro, NC – The seasonally adjusted average home price in Guilford County in August 2014 was $174,601, a 4.2% increase over August 2013’s average of $167,575 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 15.4%.  

In August 2014, the Time on Market (TOM) was 91.8 days, 1.3% less than it was in August 2013.  Over the past 12 months the TOM has declined and the spread, which shows the ratio of selling to listing prices, has also risen, indicating less discounting in the market.

Sales of existing, single-family homes in Guilford County increased during last month compared to the previous month.  A total of 392 units sold in Guilford County in August 2014 and 386 sold in July 2014.  The number sold was higher by 1.5% compared to the level of sales recorded in July, but it was 8.2% below the number sold during August one year ago.

The inventory/sales ratio, which indicates the number of months to clear the current inventory of homes on the market, was 6.8 months, the same that is was in July 2014.

“The housing market in Guilford County continues to strengthen” said Marian Stafford, president of Greensboro Regional REALTORS® Association. “More houses are coming on the market. The improving inventory trend is helping to moderate home price growth, and interest rates remain historically low.  Whether buying or selling, work with a Greensboro REALTOR® to help you navigate 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

No comments: