January Market Update - Forsyth County Real Estate

The Forsyth County Real Estate Market has gotten off to a quick start in 2014.  At the end of December we had just over 1,000 homes on the market, and over 400 new listings hit the market in January.  Even though we traditionally we see a spike in listings in January, that’s a healthy number of new homes that became available to buyers.  As a comparison November had 300 new listings, and December had 235 new listings.

Interestingly enough, we have about the same number of homes on the market that we finished the year with – just over 1,000.  That means we are still in a Seller’s Market in Forsyth County.  To determine which homes are selling quickly, I went back over the new listings in November, December, and January.

Here’s the summary:
• Homes that went under contract averaged a sales price of $280,000.
• Homes that are still on the market have an average sales price of $400,000.

No big surprise here.   The competition for lower priced homes remains strong, while the move-up market continues to have less activity.  If home prices continue to increase, then more homeowners will be able to sell their homes and take advantage of the still low interest rates.

Remember that much of the new construction activity in the county is not represented in these numbers   The reason being, builders are still hesitant to carry much inventory and when a buyer is under contract before construction has reached the framing stage,  the builders are not required to place the home in the Multiple Listing System (MLS).

If we can avoid Snowmageddon Part 3 – we should see more homeowners come on the market over the next 30-60 days. Overall, we have plenty to be thankful for in our local Forsyth County Real Estate Market.

Tim Hopkins
http://www.tkosales.com
Keller Williams Realty
678-341-7403