Monitoring the economic pulse of the Triad’
Guilford housing market shows signs of renewal
Sales of existing single-family homes in Guilford County increased 35 percent during the month of May compared to the same time a year ago in evidence of a thaw in the real estate market.
The findings come from a study by Donald Jud for the Greensboro Regional Realtors Association.
Realtors closed deals on 440 units in Guilford County last month, up from 326 in May 2012.
The study also found a gradual decrease in time on the market for listed houses, which indicates an uptick in demand as the inventory of housing shrinks and sellers find themselves in a stronger position to negotiate prices. The average time on the market has fallen by 9.2 percent in the past 12 months. Accordingly, home prices have risen by 5.6 percent since bottoming out in January 2011. The average home price in May was $159,955.