Is Winston-Salem, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Winston-Salem is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Winston-Salem has remained a Seller's Market.

Key Takeaway

Winston-Salem is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Winston-Salem, NC

How much do homes in Winston-Salem, NC cost?

Median Sold Price

$265,191

$161/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$5,229(+2.0%)

Key Takeaway

Homes in Winston-Salem have sold for 2% more than they did a year ago.

Summary: The median home sold price in Winston-Salem was $265,191 in May 2024, up 2% from last year, and the median price per square foot was $161.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $149.9K$153.5K
+2.4%
2 $159K$179.5K
+12.8%
3 $256K$263.8K
+3.1%
4 $360K$373.5K
+3.8%
5+ $528.6K$660K
+24.9%

Summary: Winston-Salem housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.4%, 2 bedroom homes increased by 12.8%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes increased by 24.9%.

Median Sold Price Compared To Nearby Cities

Winston Township
+2.1%
Winston-Salem
+2.0%
Broadbay Township
-1.8%
South Fork Township
-3.4%
Middle Fork II Township
-9.3%

Housing Supply in Winston-Salem, NC

How many homes are available in Winston-Salem, NC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
965989+2.5%

Summary: The Winston-Salem real estate market had 989 homes for sale in May 2024, a 2.5% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 1413
-7.1%
2 183180
-1.6%
3 532547
+2.8%
4 182191
+4.9%
5+ 5458
+7.4%

Summary: The Winston-Salem housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 7.1%, 2 bedroom homes decreased by 1.6%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes increased by 7.4%.

Number of Homes Sold

Apr 2024May 2024CHANGE
2822820.0%

Asking Price vs. Sold Price

124 Homes Were Sold
Under Asking

58 Homes Were Sold
At Asking

100 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Winston-Salem, you may be able to get a good deal. 44% of homes here sold below asking price last month.

Summary: A total of 282 homes were sold or pending in Winston-Salem in May 2024, the same as the previous month. Of the 282 sold homes, 44% were sold under asking, 21% were sold at asking, and 35% were sold over asking.

Days on Market for Winston-Salem, NC

How long does it take to sell a home in Winston-Salem, NC?

Average Sale Time

May 2023May 2024CHANGE
21 Days27 Days+27.7%

Summary: Homes in Winston-Salem had an average of 27 days on market in May 2024, up by 27.7% compared to last year.

Breakdown of Home Sale Times

205 Homes Were Sold
Under 30 Days

58 Homes Were Sold
In 30 - 90 Days

19 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Winston-Salem are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 282 homes were sold in Winston-Salem; 73% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 18 Days Ago

Newest Listings in Winston-Salem, NC

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