Houses for Sale in Greensboro (4/7/09)

Inventory of houses for sale has bumped back up in Greensboro this week. This may be the result of the normal increase in listings we generally see in the Spring. Folks start coming out of hibernation, taking a good stretch, and think about moving to a new cave.

The total number of listings – 3004 – is up from last week’s 2892 (.4%). But along with that is the fact that of those listings 544 (18%) are pending. This is up from last week. Indeed, that’s the highest percentage of pending listings yet. Back at the end or 2008, only 11% of listings were under contract. And for yet another week, the average list price has increased.

What this means to buyers is the same thing I’ve been writing for a few weeks now. Properties are selling and prices seem to have gone as low as they’re going to. CAVEAT: Average list price is NOT the average sales price. Sometimes the relation between the two is more distant than others.

That having been said, buying a house is not like the purchase of electronic equipment where you can almost count on prices being lower in 6 months than they are now. In Greensboro real estate, there’s not a great advantage in waiting for price reasons.

One of these days I’ll be writing about how the buyer’s market was great while it lasted and if you’ve been paying rent through all this and never took advantage of the selection, interest rates and $8000 1st time buyer tax credit, you’ll throw your back out trying to kick yourself.

You don’t want to be like someone holding onto their 8-track player, waiting for stereo prices to come down. That would just be wrong!

As always, whether the news is good or bad, you’ll see it here.

_________________________________________________________

If you have questions, comments or a good joke to share shoot me an email.  I’m a full time Realtor®, I love what I do and would be thrilled to hear from you.

* All data from Triad Multiple Listing Service (MLS) and is only as good as the information entered, which is done by humans, who make errors. The information is only for those residential zip codes for Greensboro and does not include the surrounding communities.

Tags: Greensboro housing statistics, Multiple Listing Service, Triad MLS