Forsyth County experienced a seasonal uptick in existing home sales and sales prices during July, according to Triad Multiple Listing Service data released Thursday by Winston-Salem Association of Realtors.
There were 389 closed properties, up 5.1% from a year ago.
However, pending sales dropped 24.7% to 292 while new listings were up 8.5% to 448.
For the first half of 2024, closed sales were up 1.2% to 9,191, pending sales down 0.9% to 9,702 and new listings were up 9.3% to 11,760.
For homebuyers who were able to secure a home during July, the median sale price was 6.3% higher year over year at $335,000. Sellers typically received about 99% of their list price for their home.
The median number of days that a home was on the market during July was 30, up from 26 a year ago.
The association reported there was a 2.2-month supply of existing single-family homes for sale compared with 1.3 months a year ago.
Alison Sink, president-elect of Winston-Salem Association of Realtors, has said the Forsyth existing home market "is balancing. However, a balanced market is typically defined as having four to six months of inventory. We are still experiencing a historically low supply of homes, hovering around only two months available. Housing is still a critical need within the Carolina core."
For townhouses and condominiums in Forsyth, there were 62 properties sold -- up 26.5% year over year. The median sale price was up 3% to $242,000 with sellers also getting on average 98.9% of their list price.
The median days that a townhouse or condo was on the market was 23, compared with 12 a year ago. There were 59 new listings, unchanged from a year ago.
Attom housing prices
The median existing sale price of a home in the Winston-Salem metro area continues to rise to new quarterly records, this time to $255,000 for the second quarter, according to a report from national research group Attom Data Solutions.
The previous quarterly record for the five-county area of Davidson, Davie, Forsyth, Stokes and Yadkin was $246,000 during the third quarter of 2023.
The price has remained above $200,000 each quarter since the third quarter of 2021.
The median sale price has jumped 45.7% from $175,000 when the COVID-19 pandemic surfaced in mid-March 2020.
Yet, the year-over-over gain of 5% reflects a slowing down in prices.
Since Attom Data began disclosing median home sale prices in 2005, the lowest local annual median home price was $115,000 in 2012 and the lowest quarter was $103,000 in the first quarter of 2012.
Attom Data reported all-cash homebuyers represented 42% in the Winston-Salem area, down from 47% in the first quarter, but up from 40% a year ago.
Cash buyers include institutional investors acquiring properties to initially rent before selling them during a future uptick in home prices.
Institutional investors were 7%, down from 8% in the first quarter and a year ago.
Federal Housing Administration home sales accounted for 7% in the area, unchanged from the first quarter, but down from 8% a year ago.
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