2021 was quite the year! Between August 2020 and August 2021, home prices across the United States and Canada rose to record levels, with the U.S. housing market rising to a record of 19%&
September 2021 Market Snapshot for the Triad
Dated: October 20 2021
If you're thinking about selling your home, it's important to have a good understanding of what's going on in the Piedmont Triad real estate market.
Knowing the most important data such as the average sales price, the number of homes sold, and days on market will better prepare you to sell your home.
Our market report showcases everything you need to know about local real estate trends.
Nationwide, existing home sales were down slightly in August, falling 2% after two consecutive months of increases, according to the National Association of REALTORS®. The decline in existing home sales coincides with rising sales prices, which have continued to soar into fall, with the median sales price of existing homes up 14.9% compared to last year. Declining affordability has had a significant impact on homebuyers, many of whom have been priced out of the market and are choosing to wait for sales prices to ease before resuming their home search.
New Listings increased 9.1 percent for Single Properties and 0.7 percent for Townhouse/Condo. Pending Sales decreased 19.4 percent for Single Properties and 18.7 percent for Townhouse/Condo. Inventory decreased 13.9 percent for Single Properties and 14.3 percent for Townhouse/Condo.
The Median Sales Price increased 13.3 percent to $247,000 for Single Properties and 20.0 percent to $180,000 for Townhouse/Condo. Days on Market decreased 57.1 percent for Single Properties and 48.0 percent for Townhouse/Condo. Months Supply of Inventory decreased 23.5 percent for Single Properties and 28.6 percent for Townhouse/Condo.
There are signs the market may be shifting, however. New listings have continued to hit the market, bucking seasonality trends commonly seen in the fall, a time when listing and sales activity typically slows as children return to school. As inventory increases, competition for homes may soften, and could even bring a moderation in sales prices, which, after 114 months of year-overyear gains, would be music to the ears of homebuyers throughout the country.
All data from Triad MLS. Report © 2021 ShowingTime.
I have been a leader in Greensboro’s real estate market since 1994 and have consistently been a top producer in many segments of the Triad market. As a Greensboro native, I have extensive knowledge....