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Home sales fall again in Winston-Salem area

January 17th, 2008 · No Comments

Triad MLS reports 467 homes, condos and townhouses were sold in the Winston-Salem-area in December 2007 compared to 550 in the same month a year earlier. Residential-home sales (407 last month, 491 in 2006) accounted for all of the decline in volume.

However, median and average sales prices rose at the end of 2007, climbing to $191,633 from $187,088 (2.4 percent) on average. The biggest jump: nearly 11 percent in the price of four-bedroom homes.

Sales, including condos and townhouses, totaled $89.5 million, compared to nearly $103 million in December 2006.

Winston-Salem-area brokers sold more one- and two-bedroom houses in December 2007 — 55 versus 31 a year earlier. Three-bedroom homes’ sales fell 24 percent and four-bedroom sales were 17 percent lower.

Though the numbers are small, they suggest it’s taking longer to sell homes. Fifty-three percent of the houses sold in December 2006 were the market for more than two months and 31 percent for more than four months. In December 2007, 58 percent were listed for more than 60 days and 35 percent for more than four months.

Triad MLS reports home, townhouse and condo sales in northwest North Carolina’s Piedmont Triad region and in three multi-county sales areas centered on Winston-Salem, Greensboro and High Point. The Winston-Salem area includes Forsyth and Stokes counties adjoining Surry County.

Tags: Real estate

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