Monday, September 17, 2012

Is the Housing Market Improving?

Contact Sandra Fincher
I’m Sandra Fincher, a Sales Associate with Coldwell Banker Triad, Realtors.  For the past 7 years I’ve worked primarily in the Coldwell Banker Greensboro office, but also spend a fair amount of time in the High Point and Kernersville branch offices.  For me, Real Estate is a second career.  I graduated from NC State with a degree in Chemical Engineering and worked for Procter and Gamble in a wide range of Technical and Management assignments for more than 25 years.  About 8 years ago I made a “failed attempt” at retirement and soon discovered my new passion…helping folks with the home buying and selling process. 

I find a lot of skills from my first career have served me well in Real Estate, including problem solving, managing details, creating systems, use of technology, negotiating, etc.  And I suppose the “math loving geek” in me results in my interest in analyzing Real Estate trends.  I develop graphs by using MLS searches and entering the data into a custom excel spreadsheet.  When used in a Listing presentation I find this trend data can help sellers in setting realistic list prices and realistic expectations regarding time on market.  It can also help buyers understand that the value “lost” on their current home may be recovered on the buying side.
Included are a couple of charts looking at trends in the Guilford County Single Family homes market.  This data varies quite a bit across the Triad but serves as a sample of the information available. 

Click the image for larger view

My key observations from these graphs include:

-          We have turned the corner on average sale price  J

-          Time on market is declining but is still almost 4 months on average

-          Average sales price YTD is about 87% of the price at the peak of the market

-          Buyers are negotiating big discounts from list price (95% of list price on average)
I’d like to hear from some of you.  First, how have you found skills from past careers or work experience have helped you in Real Estate?  Second, what type of data would you like to see in my next post?


Stacy Parent said...

Wow, Sandra.... this is awesome! you are an amazing Realtor!!! THank you for sharing this great information!!!

Marshall Morgan said...

Excellent post, Sandra.

Marshall Morgan said...

We need to keep in mind that the average sales price is more of an indication of the price range of homes that are selling and less about an individual home's value relative to what it was last year. If more high end homes start to sell, it increases the average sales price of houses, but that high end home that sold may have actually sold for less than it would have a year ago.