This article is a follow-up to our last blog detailing housing inventory in Forsyth County. As of 2/20/17 total inventory is up only slightly and overall levels in Forsyth County remain at approx 3.5 months, although it is actually much lower in certain price points, as explained below.
|Price Point ($1k)
The Ginther Group has broken down the available inventory by price point. We have created a range of prices, by thousands, of the inventory available and the homes that were sold in 2016 in Forsyth County. Hopefully this will explain the data in the chart above. The row "Under $100" includes all available homes priced under $100,000, either available now or sold in 2016. 21.8% of the available homes are priced under $100,000 and 22.0% of the homes which sold in 2016 were in that same price range. The demand is slightly greater than the available supply, as shown by a small inventory gap of -0.2%.
If that makes sense, lets focus on the $101-150k price point. The active listings in that range makes up 17.1% of current inventory. In all of 2016, 28.0% of homes sold in Forsyth County sold in that price range. The inventory gap, or the supply minus demand, is calculated at -10.9%. Anyone having trouble finding buyers a home in that price range? The months of inventory in that price point is very low, at 1.9 months, which is a very strong seller market. For a reminder of how to calculate inventory, and what inventory levels mean to buyers and sellers, please check our previous post here
, All the price ranges below $250,000 are suffering from a lack of inventory.
Price points above $250K seem to be adequately supplied. The price range with the most months of inventory is $301-500, at 6.2. That is a level market.
If you are thinking about selling your home, and believe your home would sell under $200,000, now is the time to get it on the market. The Ginther Group can help you sell and sell quickly. For more info on Selling your Home, please visit our Seller pages here
If you are thinking about buying it is very important to be prepared. We stress that all buyers, especially those looking at homes below $200,000, be pre-approved with a lender. In a fast moving market like ours in these price points, a buyer will miss out on the home they have fallen in love with because they aren't ready. Having a pre-approval from your lender speeds up the buying process and lets a seller know you are a serious buyer. To follow our 12 step process for buying a home...Buying a Home
.What does this mean for you if you own a home? If you are thinking of selling your home...NOW! is the time to do it. Our market shows that quality homes are selling quickly, as buyer demand is high for good homes. We represent more buyers and sellers than any other team in the Triad...we would love the opportunity to help you navigate this market.Please give us a call at 336.283.8689 or visit www.theginthergroup.com