GREENSBORO, N.C. -- The year-to-year median home listing price rose 14.6 percent to $220,000 in 2018 for Greensboro.
- Experts say that was an unusually high jump
- One homeowner says his neighbor's house sold in three months
- Experts say it will continue to be a seller's market going forward
One real estate expert says that was an unusually high jump for this market.
"The 14 percent was a huge jump, and that is just predicated on there's a large number of folks that were on the sidelines during the financial crisis that did not buy and re-entered the market place over the last 18 to 24 months," Mark Mann, the broker/owner of RE/MAX consultants offices in Greensboro and Winston-Salem said.
Mann also says the increase in construction costs also contributed to the jump. He says a typical market adjustment in Greensboro is around 3 percent.
One homeowner says his neighbor's house sold in three months. He says he does not expect to see the same numbers in 2019.
"You're seeing a cooling off of the market, and you're also seeing builders building enough properties and increasing in inventories," Mann said.
He says it will continue to be a seller's market going forward. He also reported a decrease in the average days on market for the last four years.