Winston-Salem sits in northwest North Carolina, just two hours west of the state capital. Located in Forsyth County, the city is home to more than 245,000 residents. If you are selling in Winston Salem, here’s some great information. The Twin City, sometimes called Camel City, played a significant role in the early development of the tobacco industry. There are six major colleges and universities in Winston-Salem, including Wake Forest and the University of North Carolina School of Arts.
Like the rest of the state, Winston-Salem has hot, humid summers, with average summer temperatures resting near 88 degrees Fahrenheit and winter lows averaging near 29 degrees Fahrenheit. The Winston-Salem area is rainier than most of the United States, with an average of 44.9 inches per year. There is less snow than average, with just 6.2 inches per year.
Understanding the neighborhood where you’ll buy or sell a property is critical. There’s a well-known phrase in the real estate industry: location, location, location. When you’re buying or selling a property, the one thing that can’t be changed is the location. You’ll want to choose wisely. If you’re selling your property, highlighting the benefits of your neighborhood is a great way to attract buyers. If you’re purchasing a house, taking a closer look at the community will help you understand the market and investment potential more clearly.
Need to sell your home fast? Get an offer from Brick, fast!
Whether you’re moving on a deadline or just want to speed up the sales process to move on faster, we can help. We offer:
Fast, fair offers: The average home sits on the market between 25 and 30 days. Once your home is under contract, it can take 45 days to close. At Brick, we’ll make a fair, cash offer within days.
No closing costs: Selling a home can cost several thousand dollars when you factor in realtor fees, closing costs, and repairs. You won’t have any of those expenses when you sell to Brick.
No walkthroughs: Don’t worry about scheduling open houses or walkthroughs. We purchase homes as-is. We also buy properties in any condition.
Close in days: Instead of waiting a month or more to finalize your sale and move on, sell to Brick. Once you accept the cash offer, we can close the deal within days.
Housing Market Trends in Winston-Salem, North Carolina
The demand for housing in Winston-Salem is still competitive. Median sales prices and the number of homes sold have increased over the last year. The median sales price for a home in Winston-sale is $254,000, with the average house staying on the market for 22 days. While the average home price here is lower than in some other areas in the state, it has seen growth. In May of 2021, the median sales price for a house in the city was $205,000, and homes were on the market for 25 days.
The cost of housing has increased here in the last 5 years. In May of 2017, the median house price in Winston-Salem was $156,000, and homes stayed on the market for 26 days. The number of homes sold has held a steady pattern, with no significant changes in homes sales each year. There are more home sales in Winston-Salem in the months of May and June, while December and January are the slowest months for sales.
Tips for Selling Your Home Fast:
Significant life changes don’t always come at the most convenient times. Selling your home may be a desire, or it might be necessary. Whether you’ve decided to start a new life across the country on a tight deadline or you’re just ready to ditch your investment properties, managing your sale the right way is essential. Check out these helpful articles for navigating the quick sale of your house:
- Need to sell a home quickly to avoid foreclosure?
- When you need to sell your home fast, what are your options?
- How to sell a house that needs work when you don’t want to do it.
Critical Tips for Selling Your Home:
Selling your home(s) can be difficult, but it doesn’t have to feel overwhelming. Taking a few minutes to prepare yourself for the sales process can make a difference when it comes time to part with your house. Here are a few things to consider:
Why are you selling?
Before you list your house or contact us for a cash offer, it helps to know why you’re selling your home. Identifying the why helps with the sales process, including setting expectations for a sales price. It can also help you emotionally process the transaction to let go of your property.
Sellers offloading an inherited property, downsizing, going through retirement, or selling because of a divorce, should consider whether their emotional attachment could make the sales process more difficult. We’ve noticed that buyers who are overly passionate about the sale are more likely to:
- Ignore staging advice
- Overprice the home
- Respond irrationally to lower offers or requests for repairs
- Fail to market to their target audience
If you’re selling because you want to liquidate your investment properties, you may need to consciously withdraw the idea of control over what happens to the property once you sell.
What are your selling needs?
Once you’ve identified why you’re selling and identified ways to emotionally detach from the sales process, it’s time to think about your needs during the sales process. Which of these are concerns you have about your upcoming move?
- Cost of relocation
- Access to equity in your property
- Ability to provide seller financing
- Time to pack and move
- Cost of realtor fees and closing costs
- Cost of repairs
- Finding a buyer to purchase the property as-is
- Desire or ability to manage walkthroughs and appraisals
Many sellers spend as much as 10% of their sales price on repairs, fees, and closing costs. Are you comfortable or able to let go of that money to sell your home on the traditional market? If your home needs extensive repairs, you may need to pay for repairs or make concessions on the sale price. If you’d rather avoid appraisals and negotiating with buyers, selling your home for cash could be better.
Prepare for signing and closing
One of the most anticipated parts of selling a house is signing and closing. This final step makes everything official. The process can be a little different depending on whether you sell your home through the traditional market or with an ibuyer.
If you sell your home on the traditional market, the sale can fall through at any point before closing. Complications with appraisal or funding could delay a sale. In worst-case scenarios, a deal could entirely fall through if a buyer isn’t approved for financing or the lender refuses to fund the loan because the property appraises for less than the offered amount.
You’ll meet with the lender and the buyers during closing and sign paperwork to finalize the sale. Before the final paperwork, your property undergoes an appraisal and inspection. The agent will do a title search, and you’ll complete any repairs or other concessions. Once the closing paperwork is filed and the title is transferred into the seller’s name, the home is no longer yours.
When you work with an ibuyer, the closing process is different. The process is much faster because there are fewer hoops to jump through. We offer more flexibility for sellers, including the ability to control when you move out. We don’t require inspections or appraisals, and you won’t have to worry about our financing falling through. We can help you sell your home in days instead of weeks.
What does Winston-Salem have to offer:
Winston-Salem mixes historic charm and modern architecture, arts, entertainment, and outdoor activities. There are options, whether you want to explore botanical gardens, peruse various art galleries and displays, or put some serious hiking miles on your feet.
Some of the more unique sites include a historic Shell gas station shaped like a giant yellow shell and the town of Mount Airy. Mount Airy is the hometown of the Andy Griffith Show and served as an inspiration for the Mayberry backdrop.
Winston-Salem is home to Carolina University, Wake Forest University, and the University of North Carolina School of Arts.
Popular attractions in and near Winston-Salem include
- Old Salem Museums and Gardens Administrative
- Reynolda House Museum of American Art
- The Southeastern Center for Contemporary Art
- Tanglewood Park
- Reynolda Gardens-Wake Forest
- Korner’s Folly
- Salem Lake Road
- The Winston Cup Museum Special Event Center
- Quarry Park
- Giant Coffee Pot
- Paul J. Ciener Botanical Garden
- Lam Museum of Anthropology
- Shell-shaped Shell Station
- Adventure Landing
- Salem Lake Trail
- Bailey Park
- Kernersville Lake Park
- Hobby Park
- Union Station
- BB&T Field
- Hanes Mall
- LJVM Coliseum
- Historic North Carolina Barbecue Trail
- Trade Street
- Mast General Store
- Artivity on the Green
- Yadkin Valley Wineries
- Mount Airy
- Pilot Mountain State Park
- Hanging Rock State Park