Real Estate Market Report
Winston Salem, which is locally referred to as Winston is a city in North Carolina known for its diverse population, deep-rooted Southern culture, beautiful festivals, and rich culture. There are currently 240,193 residents in the twin city as per the last census. Unlike other metropolitan city centers in the region, there has been no rapid boom in the city's population, meaning the region has kept its small-town feel through the years.
Typical Real Estate Transaction in Winston Salem
There is a healthy real estate industry in the city of Winston Salem. Whether you're planning to sell a home or buy one, you'll find excellent deals readily available for you.
Homes that are listed for sale in the city go pending on average for 35 days if sold at below 2% the listed price and 24 days if sold at below 1%. The median home value in the city is $159,246, which is relatively close to the national average.
Home types in Winston Salem:
- 61.94% Single-family detached homes
- 24.80% High Rise Apartments and Apartment Complexes
- 6.19% Duplexes and Smaller Apartment Buildings
- 4.68% Row Houses and Attached Homes
Property Appreciation in Winston Salem
There has been a steady growth of home prices in Winston-Salem and North Carolina, in general, making it an ideal time to buy a home to build equity. Over the last 12 months, there has been an appreciation of 8.86% in the average house price. Short-term real estate investors looking to flip residences will find ample opportunities in the city.
Moving to Winston Salem
There are many positive qualities families can consider if they are looking to move into the twin city of Winston-Salem. For one, there are a plethora of recreational attractions in the city, including sports arenas, impressive public parks, annual and regular events and festivals, and so much more.
There is a long list of beautiful neighborhoods in the city, including subdivisions such as Buena Vista, Old Salem, Sunnyside, Country Club Estates, and more. The average home price in the region is also quite attractive. The average price of a single-family home in the city is $172,000 at $96 per square foot. The median home value if your include condominiums and apartments go down even further to $159,246. You'll have a good selection of properties to best match your needs and budget.
Check out our original blog post at https://www.winstonsalemhomes4sale.com/ for more information.
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