Fresh Stats for the Greensboro Housing Market..1st Quarter

I pulled some fresh stats for our single family market in Greensboro, NC to review with our sales agents.  We definitely are seeing strong improvement especially in the higher price ranges.  As of yesterday we closed 504 homes according to our MLS.  We have another 707 scheduled to close. 

Most of the closing and pending activity is taking place in the $100,000-179.999 price point.  But also a significant surge in closings and pendings in the $200,000-$399,000 price range.  I'm seeing that market pick up a lot in my own office especially with the relocation buyer.

Another interesting trend is financing.  Last year we had a huge surge in FHA financing.  But look how the numbers are changing this quarter as of April 4th. 

Conventional Loans-166
Cash Buyers-           165
FHA                        123

With these trends look for a lot of empty nesters buying homes in cash.  The conventional loans lend itself to the higher priced homes or individuals that can put down a substantial down payment.

The under $100,000 price market is still very steady.  We are finding a lot of investors are out there as well.

I'm also pleased to see an increase in the upper end buyer.  Closings and pendings are trending upward in the $400,000-$749,000 market.  We even have a few sales in the million plus neighborhoods as well. Just a handful but every bit helps our economy.

We are in the throws of our Spring Market lets look for a very strong second quarter.  Our market numbers are trending in that direction.  Now go sell something!!!  I'm Michelle Amador "Taking it Under Advisement".