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Homes sales in area plunged in October

December 7th, 2007 · No Comments

As predicted, home sales fell in October, according to the Winston-Salem Regional Association of Realtors. The number of units sold fell by more than 10 percent from a year ago and total dollar volume was down 16 percent from October 2006.

Sales dropped in all sizes in single-family homes — two bedrooms or less, three bedrooms and four or more.

Only condo and townhouse sales increased, from 53 in 2006 to 60 in October 2007.

The change from September to October this year was abrupt and severe as concerns about the housing market spread across the nation. Sales had been strong in September when area Realtors sold 70 percent more homes than in September 2006 for a total sales volume of $204 million. But in October the national shockwave hit the Piedmont Triad.

The Winston-Salem-area Realtors reported 539 sales of single-family homes, condos and townhouses in October 2007. The median price (half sold for more, half brought less) was $147,500 and the average price was $182,245. Sales totaled $98.2 million.

There were 604 house, condo and townhouse sales in October 2006 with a median price of $144,325 and an average price of $193,300. Total dollar volume was $116.8 million.

Tags: Businesses · Real estate

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