The Triad Housing Market                                                                    SPRING 2015 EDITION

At Allred & Co., REALTORS® we strive to not only guide our clients and customers on the ins and outs of their real estate transaction, but to also educate them during the entire process. Whether you’re buying or selling you need to know what the market conditions are in not just the Triad area- but your neighborhood! Being armed with this knowledge - you have realistic expectations of the marketplace. The good news is that according to a Metrostudy report the Triad’s housing market is drastically improving. “Looking at a year-to-date perspective, the Triad is up 15.6% in starts compared to 2013, and up nearly 20% in closings,” said Jay Colvin, Director of Metrostudy’s Triad region. This information may be interesting, but can leave you wondering- what does this mean to me?
WHAT IT MEANS TO A TRIAD SELLER- As a seller- this means you need to be aware that with surplus housing available-buyers have a lot of negotiating power right now.  The bottom line is that if you are a motivated seller- you need to be creative, flexible and willing to ‘wheel and deal.’
WHAT IT MEANS TO A TRIAD BUYER– Housing prices have increased by 6% in the last year. The local Real Estate market has rebounded to such a degree that last quarter 1/3 of all listings moved within 60 days.  If you’re really interested in a home- don’t assume that it will be available next week. 
WHAT ABOUT ARCHDALE-TRINITY HOMES FOR SALE?  “The housing market in Archdale-Trinity is a little different than the rest of the Triad, “said Karen Allred, Broker in Charge of Allred & Co., REALTORS®, “there’s not as much ‘surplus housing’ in our area as in the rest of the Triad. The listings are highly sought after due to the low county taxes, great public school district and convenience to I-85.”  Transactions in Archdale-Trinity tend to see more competitive offers and counter-offers than the neighboring areas. Sellers in the Archdale-Trinity area are able to hold out for  a good offer– and in most cases- the buyer is willing to step up the game due to the competitive nature of the market in our community.