Nationally

I always point out that the news reports you hear regarding national home sales, while important to know, don’t effect or reflect what is happening locally. To make that point, June data came out from the National Association of Realtors showing that the number of sales declined nationally by 0.8% but the median sales price nationally went up by 0.8%.

Forsyth County

Locally we saw the exact opposite with the number of sales up in June 2011 vs 2010 by 6.4% but the median sales price was down by 17.6%. The average sales price in Forsyth County YoY was down 10.1%

Another interesting number is average days on market which is down significantly. The ratio of sales price to list price has remained flat. But the most significant point is that pricing your home right from the beginning makes a significant difference in how quickly you will sell.

Homes with no price reduction in June 2011 sold on average in 42 days compared with 151.

Bottom Line

More homes are selling but still at depressed prices (for the county as a whole). There are some zip codes that are seeing modest price increases. Also, it’s critical to price your home accurately from day one.

Note sure about your situation? email us and we’ll help you decide if now is the right time to list your home.