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Year End Numbers Are In for Forsyth County Home Sales

Forsyth County home sales complete a very strong year in 2012.

The year-end numbers are in for Forsyth County home sales and our local market continues to have strong indicators of returning to a healthy market.

Here are some highlights:

Total number of sales in 2012 increased 11.6 percent from 2011. We've now had six consecutive quarterly periods with an increase over the same period in the previous year.

The percentage of sales that were foreclosures dropped from 15.8 percent to 8.7 percent (4th quarter 2012 vs. 4th quarter 2011).

The percentage of sales that were short sales stayed consistent at 18 percent.

The median price increased 4.6 percent in the 4th quarter, which marks four consecutive quarterly periods with an increase over the same period in the previous year.

Average days on market decreased from 122 days to 95 days. This is due mostly to lower inventory creating increased demand and competition among buyers.

For home sellers in Forsyth County, the most impactful statistic is the 39 percent decrease in inventory in December 2012 compared to December 2011. We are now back to a seller's market in all price points under $500,000. 

March is typically one of the biggest listing months of the year, so if you are thinking about selling your home you may want to list in the next four weeks to take advantage of the low inventory.

Editor's Note: Tim Hopkins is a licensed realtor since 2001.

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

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