TRIAD NC

VOL16 ISS2 2018

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THE ORIGINAL RELOCATION GUIDE—TRIAD NC | VOLUME 16—ISSUE 2 26 TRIAD REAL ESTATE Triad Real Estate BY DREW BECKER value, location, growing market Throughout North Carolina and across the country, the real estate marketplace is a seller's market. The Triad is no exception. Large cities have seen an increase in demand for housing and a decline in new construction. However, new building is beginning to pick up. Statistics presented here are for the last 12 months up through the third quarter of 2018. Most sellers are getting multiple offers which helps real estate to continue to be a good investment. The Triad is a growing and upcoming area of North Carolina. With the Piedmont International Airport in Greensboro, top notch health services in Winston- Salem, and the biannual Furniture Market in High Point, these three anchors of the area offer many housing opportunities. Between these and other towns and cities in the Triad, there is real estate to suit every need from affordable housing to magnificent estates. New listings in Greensboro totaled 3,834 compared to 4,254 for the same time period in 2017 which is a 7.7 percent decrease, mainly due to less new construction. With the Piedmont Triad International Airport and the 10-year plan that is bringing in large employers, there is a rise in the number of people relocating to the Greensboro area. The average sales price for a home is up eight percent to $224,711, much less expensive than the US Census figures of the national average of $377,200. The percentage of list price received for housing sales in Greensboro has been 97.6%. These statistics indicate that real estate continues to hold and increase in value in the Triad. The largest number of homes sold were priced below $100,000. The second largest quantity sold for between$120,00 and $140,000. The city has been working to bring in new businesses to increase employment opportunities. The number of days on the market—the time it takes a property to sell—has decreased from 57 to 49 days in Greensboro and other Triad cities including Winston-Salem and High Point. A majority of Greensboro homes have three bedrooms. Most are in great neighborhoods and are well-suited for families. Greensboro has a multitude of housing areas built around the many greenways and parks with great schools such as Fisher Park, Aycock Park, Sternberger Park and Lindley Park. Many of these neighborhoods with single- family homes are near downtown Greensboro, offering the opportunity for outdoor activities with walking trails and bike paths. The downtown Greensboro Greenway project is expanding the parks system and walkability in the area. Latham Park, Pisgah Church Road, Sunset Hills, Old Oak Ridge Road, Westfield Drive, Lake Daniel, Joseph Brian Boulevard, Lake Brandt Road, and Spring Garden Street are in the city or in close proximity. For those who prefer to live outside the downtown setting, Summerfield provides easy access to parks and hiking trails. Another popular suburban neighborhood is Adams Farm. Winston-Salem is thirty miles to the west and also has seen an increased population of 249,327. There were 7,472 total listings from January to November in 2017 and 7,860 during the third quarter of 2018. The average price for a home increased to $197,393 this year from $186,624 the previous year. A majority of the homes for sale were on the market less than 60 days. The largest number of units sold to date this year were in the $50,000 to $100,000 price range and were two and three-bedroom residences. The next largest category, $140,000 to $160,000 were mostly three-bedroom. Popular neighborhoods include Ardmore, Bermuda Run, Buena Vista, Runnymede, West Highlands, Holly Avenue, Olde Vineyard, Old Salem, Sherwood Forest, South Fork, Washington Park and West End. Located in the historic district, Ardmore caters to young families and is located between Wake Forest University Baptist Medical Center and Forsyth Hospital, so it is convenient for medical students. Millennials without children gravitate toward downtown housing with many apartments and condos and near Bailey Park, which has events with food trucks and sports lunchtime concerts. High Point, where the internationally-known furniture market takes place, is 15 miles southwest of Greensboro. The total number of units sold in 2017 was 1,867>>

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