Unlike the price of apples, though, when a community has too much housing inventory, the impact can be widely felt. After all, properties whose value drops  will be taxed less. (You can read how property taxes are calculated in Guilford County here.) While lower taxes sounds great for the homeowner, lower tax revenues across a large area mean drastic changes for the entire community.

At any rate, tracking the housing inventory in Greensboro shows what everyone probably knows: There’s a great many properties for sale. As of June 5th, per our local Multiple Listing System (the database all properties listed by area Realtors) showed there are 3304 residential properties on the market. These include both ‘active’ and ‘pending’ listings. I include those units whose sales are pending because until they close, they’re not sold. And there has been many a fumble twixt contract and key exchange.

Compared with the same week last year, inventory is up. This week last year there were 3024 homes listed.

At the same time, the average list price is down from the same week last year. $222,871 this year versus $244,812 last year.

These prices are averages across all property types, across all zip codes. The ‘price of apples’ in some zip codes is decidedly more robust than in others:

Of course, some of those 3304 listings are indeed slated to close. Keeping a good thought towards that, the break down of active/pending listings in property types is this:

And active/pending by zip code is this:

Sadly, there is a portion of these listings that are foreclosures. The breakdown of the percentage of foreclosures in the overall numbers follow:

Eventually, there will be more buyers and fewer available properties. Until then, maybe we should get used to applesauce.

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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) 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.

So, as in mixed nuts where you have to take the peanuts along with the cashews, and mixed drinks where soda uses up perfectly good space that could be occupied by scotch, we must accept this mixed news for what it is -  mixed.

The numbers are:

• Total Listings  -  2850 (up 1.1% from last week)
• Avg List Price -  $241,868 (up .7% from last week)

So, higher price = the cashews . Higher inventory = soda.

But looking at the bigger picture, as you know I love, inventory is down compared to early December and prices are up. Scotch and cashews!

I’m suddenly hungry and thirsty.

Also, it has just been released the inventory in 29 major markets is DOWN. This is some of the first good news on a broad scale that we’ve seen since the whole debacle started.

Bottom, bottom. Where is that bottom?

Now, for the “graphfluent” readers among you:

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

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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). “Single-family” does not include Duplexes or manufactured homes.

And the most recent numbers indicate that maybe *maybe* we’re at the beginning of turning a corner in terms of inventory and pricing in the area.

There was a decline in the number of properties on the market in Greensboro compared to last week, and prices continue to be almost unchanged*.

Moreover, since early December the number of houses on the market  is DOWN 5.4% and the average list price is UP 6.4%.

This is good news. Mira esto:

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). “Single-family” does not include Duplexes or manufactured homes.

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.