While the current supply of listings is not the highest it’s been in Greensboro, it isn’t far from it. And the average list price is nearer the bottom of the range rather than the top.
What does all this mean to buyers, sellers and to those interested in their own property values?
It means things are pretty cruddy for you if are trying to sell your house and things are pretty good for you if you’re looking to buy.
This has been the case for some time now. (I would like to compare inventory and prices for this week compared to the same time last year, but I was so demoralized after months of bad news in 2009 that I took I hiatus from stats for several weeks. Now my pity party is over and comparative data will be the name of the game from now on – no matter how gross.)
This is not to say nothing is moving Properties are selling. In the next day or so I’ll post about the June sales numbers, which were higher than May as well as higher than last June. A large part of that is undoubtedly due to the late, great federal home buyers tax credit. But, still.
The long and the short of it is, if you want to sell your house, clean it, de-clutter it, make it smell nice and price it properly.
That last thing is key. The whole issue with so much inventory is that, if you have a house to sell, there are that many more people who have one to sell at about the same size, location, school district, etc., You have to make your home the one that buyers can most easily see themselves purchasing and moving into with the fewest hassles.
Getting back to the numbers, the 27410 zip code continues to have the lion’s share of listings: 674.
27405, 27406 and 27406 are neck and neck and neck with 443, 446 and 445. (27405 & 27406 also have the greatest number and greatest percentage of foreclosures.
The average list price for the week, including all property types, is about $222K. What will spending about that amount buy you? Here’s an example. (Click on the photo for more information):
2209 W. Friendly Avenue, Greensboro, NC $214,900 (MLS#572063)
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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) as of June 29, 2010, 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.
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This is one of the BEST I have ever seen from a Realtor. You are wonderful. Do you charge to do web-sites and maintain and is WordPress also hosting your site?
Your pink face at the end of my message to you looks a little angry.
Thanks for the kind words. My site is hosted by Dreamhost. Wordpress it the “framework” that I built my blog with, along with the Thesis Theme, to customize it.
And the pink face is your’s, not mine. It’s the avatar that must have been automatically generated ( wordpress, not by me or my blog). You can control that a bit by associating a Gravatar with your email address, thus controlling the image that shows when you comment on a blog, anywhere on the internet.
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