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We will be moving to the Winston-Salem area later this year and I have a question regarding the real estate market. Do home prices seem to have stabilized over the last few months? Are homes selling more quickly than they were six months ago? Are there many foreclosures?
We were there in March to look at properties, and it seems that the prices have held steady since then (according to the websites we are checking). If anyone could give us a sense of what you perceive the trend to be, we would appreciate it. Of course with real estate it's a guessing game... but since we are not there day to day yet, we cannot get a "feel" for what is going on.
We look forward to moving there! We are counting the days!
I don't see house prices dropping too much more. Some in our area has dropped some in price but it's been a while and it seems that more are selling than usual.
I, personally haven't encountered too many foreclosures in the area but others may have a different opinion.
We sold our 23 year old townhouse (near Old Salem) in June after being on the market only 30 days. It sold for $2,000 more than the nearly identical next door unit that sold a year earlier. Our home was shown to 17 different prospective buyers in those 30 days. We were very pleased with the level of activity and the fact we had a clean, quick sale... no nit-picking with carpet allowances, closing costs, etc.
I can assure you that the Triad Market is not at all representative of the rest of the country. There are still areas that get more than one offer in a relatively short period of time. And our days on market has increased, but still less than two weeks. Tons of homes to choose from as well, unless you are looking in the 350k+ range.
Good luck!
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