Winston Salem, NC housing market

Winston Salem home values are barely moving, up about 0.3 percent in a year, while nearly a quarter of sellers are cutting prices. If you are thinking about selling here, the next few minutes will show you how to avoid becoming one of them. The typical home value here is about two hundred fifty-eight thousand dollars, up just 0.3 percent over the past year, essentially flat. There are about 840 homes for sale right now, and roughly 320 more hit the market in a typical month, so buyers have options. The median home sits for fifty-three days before finding a buyer, which tells you this is not a fast market. Here is where sellers get into trouble. The median list price is about three hundred twenty thousand dollars, roughly sixty thousand dollars above what a typical home is actually worth, and nearly a quarter of all listings have already taken a price cut. When asking prices run that far ahead of values, the overpriced homes sit, then they cut. The lesson is simple. Price your home close to its real value from day one and you can still sell in a reasonable time. Aim for the median asking price on a below-median home and you should expect about two months of waiting, then a cut. For a free estimate of what your Winston Salem home is worth today, visit Home Value Pros dot com.