Greensboro, NC Real Estate Home Report:
The following Greensboro, NC housing data was retrieved from the Triad MLS on March 5, 2010 and focuses on Greensboro, NC Single Family Real Estate Home Sales in February 2010.
The numbers for February indicate a sluggish home sale market. With only 105 single family home closing in Greensboro, this data shows the market being more than 15% off from the same month last year. However, homes going under contract (pending) in Greensboro have increased by 25% when compared to 2009 for the month of February. Last but not least, new listings are up by 28%.
All of these factors make this the ideal time for buyers to get off the fence and purchase. Not only are interest rates at an all time low, there is a huge selection of homes and a tax credit from Uncle Sam, which makes home buying a sweet deal for qualified buyers. There is also every reason to believe that interest rates will climb in the very near future and stay elevated. For more information on interest rates, see my blog What's the Deal With Mortgage Rates?
Active Homes for Sale:
The number of Greensboro Single Family homes for sale: 2,428
Median Price: $159,900
Average DOM (Days on Market): 139
Comments: The number of active homes for sale is up 3% compared to February 2009 and is up 6.4% compared to January 2010.
The number Greensboro Single Family Homes listed for sale (new listings) in February 2010: 460
- The month before (January 2010): 447
- Last year (February 2009): 359
Comments: The number of homes newly listed has jumped by 28% compared to February 2009 and has also increased by 2.9% compared to January 2010. More new homes coming onto the market means more competition for sellers and better conditions for buyers.
Pending Homes for Sale:
The number of Greensboro Single Family Homes under contract: 186
- Previous Month (January 2010): 142
- Last Year (February 2009): 149
Comments: The number of homes that went under contract in Greensboro, NC has remained a positive statistic. It increased by 25% when compared to February 2009 and has also increased by 24.8% when compared to January 2010. This is a number we will continue to monitor closely. This figure is critical as it will indicate what is going to happen during the next 30-90 days.
Click here to see a detailed report of pending homes.
The number of Greensboro Single Family Homes sold: 104
Median Sold Price: $126,250
Average Days on Market: 105
- Homes Sold Previous Month (January 2010): 89
- Homes Sold Last Year (February 2009): 99
Comments: The number of homes closing this month has some shown some signs of recovery. The number of Greensboro homes sold dipped by 15% compared to February 2009 but is up 22% compared to January 2010. In addition, homes under contract is a leading indicator of homes sold. As I mentioned above, homes under contract continues to show positive growth.
Team Leung is the #1 Power Team in the Keller Williams Triad Area for the third year in a row! We can be contacted at 336-508-1111 or www.GreensboroAreaHomes.com. Team Leung consists of Andy Leung, Lisa Postlmayr, Kelly Walters and Heather Dodson.