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Fewer than 500 homes sold in November

December 11th, 2007 · No Comments

Winston-Salem Regional Association of Realtors wasted little time posting results of sales activity in November, perhaps because there were fewer sales to count than in October. The Piedmont Triad Multiple Listing Service reported 497 houses, condos and townhouses were sold last month, almost 7 percent fewer than November 2006. Almost all of the decline was in single-family homes; the total of condo and townhouse sales dropped by one from 2006.

The average sale among all units was $179,562, 1.1 percent higher than in November 2006. About 30 percent of the 445 houses sold last month had been on the market for four months or more, a percentage unchanged from last year, suggesting that sellers haven’t changed their habits while waiting for the right buyer or price.

The biggest change was in financing. Last month, buyers used conventional financing to acquire 312 houses (70 percent). In November 2006, 386 houses (80 percent) were purchased with conventional loans. This year almost 60 buyers paid cash compared to 40 in 2006. FHA- and VA-financed home loans jumped to 47 last month compared to 36 in 2006.

In the Triad as a whole, including areas served by the Greensboro and High Point Realtors’ associations, there were 1,120 units sold in November 2007, 126 (10 percent) fewer than in November 2006.

The Winston-Salem Regional Association of Realtors serves Forsyth, Stokes, Davie, and northern Davidson counties.

The Surry County Board of Realtors serves Surry County.

Tags: Businesses · Real estate

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