“The number of existing, single-family homes sold in Guilford County totaled 440 in May after adjustment for seasonal variation. The number sold was up 1.9% compared to the level of sales recorded in April, and it was 35.0% above the number sold during May one year ago.
The average price of homes sold was up 0.3% in May and has risen 4.0% over the past 12 months. Existing home prices in this cycle bottomed in January 2011 and have since risen 5.6%.
Over the past 12 months, time on the market (TOM) has fallen and the spread, which shows the ratio of selling to listing prices, has increased, indicating less discounting in the market. The inventory/sales ratio was 5.4 months. This ratio indicates the number of months to clear the current inventory of homes on the market at the current pace of sales. The ratio is down from 8.2 months in May of last year. The inventory/sales ratio is substantially higher for more expensive homes. For homes priced at $500,000 or above, the ratio is 18.2 months.”
Full Report: May 2013 Guilford County Housing Report
Source: May 2013 Guilford County Housing Report developed for the Greensboro Regional REALTORS Association by G. Donald Jud, Jud & Associates