For the 2nd week in a row there are FEWER houses on the market this week than last.
Last week there were 2939 houses on the market. This week 2864. That’s 75 (2.6%) fewer. And this follows last weeks drop in listings on the market of 41 (1.4%).
This is moderately good news. Now, it can be argued that listings often are taken off the market during the holidays, but this year that may be less true.
Why? Because most properties that have been listed over the last several months are being sold because the sellers needs to sell, not because they think it would be a hoot. These sellers still need to sell.
And the prices? After last week’s slight uptick, there was a very slight down tick this week, ending up almost exactly in the middle. The average list price as of 12.23.08 is $228,270, compared to $230,757 on 12.16.08. The week prior to that the average list price was $225,417.
Some more details:
For the week of December 23, 2008:
- 2864 - Total properties for sale in Greensboro
- 2534 - Active Listings (88%)
- 330 - Pending Sales (12%)
- $228,270 - Average List Price
Of these listings, they break down by property type like this….
… and by Greensboro zip codes ….
… and the average prices in those zip codes ….
… and, finally, the weekly average list prices within the zip codes (some up, some down)…
We’ll take a closer look at specific zip codes in future posts. Also, we need to break out foreclosures from non-foreclosures. But for now we’ll take solace in the fact that there has been a drop in inventory in Greensboro and prices are remaining fairly steady.
Small steps, small steps, as we look for the fabled “bottom” and hope for the turn back upwards..
* Data per Triad MLS (Multiple Listing Service) as of 12/23/2008. Ho, ho, ho.
