Winston Salem, NC housing market

One in every five homes for sale in Winston Salem right now has already taken a price cut, and that tells you most of what you need to know about this market. The typical home here is worth about two hundred sixty-three thousand dollars, up less than one percent over the past year. Values have essentially gone flat. Meanwhile, the median asking price is around three hundred twenty-six thousand dollars, well above that typical value, which helps explain why roughly 21 percent of listings have had to come down. Sellers are aiming high and the market is pushing back. Homes that are priced right do still sell. The median time on market is about seven weeks, slower than the frenzy of a few years ago but hardly stalled. And buyers have options, with about 760 homes for sale and nearly 400 fresh listings coming on. If you are thinking about selling, the lesson is simple. In a flat market with this much competition, the price you start with matters more than the price you hope for.