A historical Rebound!
The economic and real estate market of the city finally bounced back to its former glory. The evidence for this lies in reports which indicate that in August 2015, the number of new and existing home sales increased by 11% and the average price by 3%, during a 12 month period.
Things only got better in 2016, with about 14% increase in closed sales during the first quarter, compared to the same period in 2015.
There was a huge decrease in the number of houses available and the home inventory was just about four months compared to nearly seven months in 2015.
A negligible fall in the number of new listings compared to the previous year was also noted.
This made house-hunting difficult for buyers and more conducive for sellers in Greensboro to sell their house , giving them the privilege to choose the best and the highest from the multiple offers they received.
The competition for houses below $200,000 was especially tough.
The mortgage rates have been showing a slow rise since the elections and the month of April saw a mild decline in the home prices in 2017.
Current Scenario
The median listing price has gone up in July 2017 and the current median house value lies at $139,532.
More and more sellers are trying to take advantage of the present market and builders are working to bridge the gap and construct more homes.
The demand and the high prices will even out, as the inventory scales up.
Luckily this will not happen overnight and the change in Greensboro is usually gradual and slow compared to the rest of the nation, giving people time to prepare themselves for the shift in market situations.
However nobody can predict the exact time it will take and how long the seller’s rule will last!
Time to sell! But How?
With a market like this, it is definitely the best time to make a quick home-sale. You do not even need an agent with the number of buyers and high demand.
To make it easier for you to do it yourself get the best deal without a realtor, you can make use of the services of online portals such as fastoffernow.com.
If you are worried about closing costs, we take care of that as well!
Sell your house for the best market price and do not worry about staging it to attract buyers.
We buy your home as it is and you can leave the repair costs and embellishment of the interiors to us!
Without any confusion about choosing from multiple buyers or pricing it right selling your house in Greensboro just got easier and faster in 2017!