With so much mixed information on real estate from both the national and local levels, I wanted to focus on what has been happening with Greensboro home sales. The following charts and data are on Greensboro Single Family Homes so that means condominium,townhomes, land, multi-family and commercial are excluded. This Greensboro Home Sale data was pulled from the Triad MLS on May 9, 2012 and focusses on numbers from April 2012.
Greensboro Active Homes For Sale: 1893
The number of homes for sale has risen slightly since the beginning of the year from 1862 units or about 2%. This is about 1% up from the number Greensboro homes for sale in March of 2012 of 1876 units. Compared to April 2011, the number is down substantially from 2562 units or 26%. This decrease in supply is good news for home sellers.
Newly listed Greensboro Homes for Sale: 382
Another good nuumber for homes sellers is the number of homes newly for sale in April 2012 is down 10% compared to April 2011′s number of 424. This number is also down about 2% of last month’s number of 391 homes coming on the market of March 2012.
Greensboro Homes Sold: 191
10% up from April 2011′s number of 173 and 6% down from last month’s(March 2012) of 202 homes shows the number of homes being sold is better than stable with the year to date(January-April) number for 2012 of 638 homes is 7% to the plus side of 2011 ytd number of 596.
Months Supply of Inventory: 9.6
This number is calculated by taking the number of active homes for sale on the last day of the month (1581 homes) and dividing it by the number of homes that went under contract during the month (165). Again, a 14% improvement compared to April 2012′s number of 11.1 but a slight increase from March 2012′s 7.2. The year to date (January-april) average is 8.2 months supply of inventory.
Greensboro Homes Pending: 165
Though this month’s number is down 21% compared to last month’s 209 units and down 17% from last year’s April of 199, this may only be a blip as the 2012 year to date number of Greensboro homes going under contract of 755 units is 8% higher than 2011′s 697.
So, mostly positive news for Greensboro’s single family homes sales this month. Is this a sign that the market has turned around? Drum roll…it is hard to tell. There still is a debate on the number of foreclosures that have not hit the market or not yet acquired by the banks that may or may not come on the market soon. Also, with 1893 single family homes for sale and 191 closings in April that is only about 10% of the homes closing in that month. So,for every 100 homes on the market 10 closed or 1 out of 10 which is an astonishingly low number.
But what is a bad market for sellers is a GREAT market for buyers. Interest rates are at an all time historic low and the choices a buyer has is at a high. Bottom line…now is the time to buy.