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Greensboro, NC Statistics

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Greensboro, NC Statistics

Greensboro

Greensboro, NC is my home and I love it.  It’s located in Guilford County, a beautiful, friendly, family oriented environment and I think everyone should live here!

Statistics from the US Census bureau, for Guilford County and for North Carolina:

Population, 2009 estimate                             480,362                                 9,380,884
Housing units, 2009                                      216,162                                 4,258,625
Median household income, 2008                    $47,836                                    $46,574

At the end of April, our inventory of homes on the market was 8,705. At the current sales pace, it will take 14 months to sell off the existing inventory. The number of existing homes offered for sale was down 7.3% below what it was at the end of April 2010.

The average quality-adjusted price of an existing home in the Triad was $158,478. This April average was down 8.4% from the average recorded 12 months ago.

The average home sold for 93.6% of its listing price and was on the market 122 days prior to sale. This number is actually much better than I would have estimated.  My guess would have been that the average house was selling at only 85%-90% of what it is listed for. And, the average time to be listed for sale at only 4 months is not bad at all.

Over the past year, the ratio of selling to listing price dropped, while time on the market increased. This means that the average home seller is taking less for their home but is still taking longer to sell when compared to recent years.

For homes less than $75,000, average time to sell was 7.5 months, while for homes more than $500,000, average time on market was 37.7 months. In April, only 16 homes were sold at a price above $500,000, while 603 were listed for sale.  So, the average buyer appears to be in the $100,000 to $250,000 price range and, if you’re selling a home over $500,000, you have a very limited pool of buyers to attract!

The number of real estate foreclosures in the Triad declined 4.9% in April and is down 22.6% over the past year. There were 697 reported foreclosures in the Triad in April. The number of foreclosures was 1.1 times the number of home sales.  So, foreclosures still outpace home sales which continues to hurt home values in our area.

What’s been your experience?

www.KarensPerspective.com

Comments (1)

Jeff Craig
Hang Me Up Photos - Jamestown, NC
Greensboro Area Real Estate Photography

I thought prices here had leveled off earlier in the year, but it is unfortunate that they are still plummeting.

Jun 06, 2011 04:19 AM