Last week we talked about the drastic drop in inventory in Forsyth County (42%).  Basic supply and demand principles say this should lead to an increase in prices.  And that is exactly what we have seen.

The median sales price in Forsyth County increased 6.8% in the 1st Quarter and 4.4% in the 2nd Quarter.  These were the first price increases since 2008.

The "Move-Up Market" is what drove the local market during the peak from 2004-2007.  Continued increases in pricing will allow more people to sell their home and bring the move-up buyers back into the market.