High Point Housing Hype: February 2025 Real Estate Market Wrap-Up
Hey there, High Point enthusiasts and home-hunters! Grab your favorite cup of joe and settle in for a lighthearted stroll through our local real estate numbers—brought to you courtesy of the Triad MLS. Whether you’re daydreaming about that perfect single-family gem or eyeing a trendy townhouse/condo, here’s the scoop with a dash of humor.
Single Properties: The Classic Tale
It’s been an interesting February for our stick-built beauties, duplexes, and all-around single properties. Let’s break it down:
- New Listings: We saw a drop from 119 listings in 2024 to 95 this year—a 20.2% dip. Even when you stretch out the view to include February year-to-date numbers (220 to 180), the decline sits at about 18.2%. Fewer new listings might mean you’re not going to get that endless parade of “For Sale” signs, but hey, quality over quantity, right?
- Pending & Closed Sales: Pending sales took a nosedive by roughly 27% (86 to 63) and closed sales fell by about 16% (69 to 58) compared to last year. The year-to-date comparisons are a bit more forgiving (down 22.1% and 7.6%, respectively), so while homes aren’t disappearing off the market as fast as they once did, they’re still finding their match—just at a slightly slower pace.
- Days on Market: Speaking of pace, homes are lingering just a smidge longer before sealing the deal. The average days until sale nudged from 43 to 45 (and a notable jump from 37 to 45 in the year-to-date numbers). Maybe buyers are savoring the decision, or perhaps they’re enjoying an extra cup of coffee before making the leap!
Price Points:
Median Sales Price nudged up by about 1.3% from $255K to $258,250, though the year-to-date numbers dipped slightly (from $258K to $255K).
Average Sales Price increased by roughly 1.8% ($281,570 to $286,512), signaling that while there are fewer homes, the ones that are selling still pack a pretty solid punch.
The Seller’s Edge: Homes are still fetching near-list price offers (hovering around 97–98%), although there’s a tiny drop of about 0.9%—proof that buyers are negotiating, but sellers are still in a strong position.
Inventory Insights: The overall supply has thinned out—a 20.3% reduction (from 202 to 161 homes) with the months supply dropping from 2.2 to 1.9. Fewer homes on the market can mean a tighter, seller-favorable scene… if you can get your listing in front of the right eyes!
Townhouse/Condo Properties: The Urban Adventure
Now, let’s chat about the trendier side of town—our townhouses and condos, which are experiencing their own rollercoaster ride:
- New Listings: Ouch! New listings tumbled by a whopping 42.3% (from 26 down to 15), and the year-to-date numbers aren’t looking much rosier (down 30% from 50 to 35). It seems that these compact condos are playing hard to get.
- Pending & Closed Sales: Pending sales dipped 36% (25 to 16) and closed sales nearly followed suit, falling 38.9% (18 to 11) with similar trends seen in the year-to-date stats. The market might be a bit slower here, so patience is key!
- Days on Market: Homes are taking their sweet time in this category—rising from 47 days to a rather eyebrow-raising 77 days until sale (with a 17.3% increase in the year-to-date figures). Maybe these properties are enjoying a prolonged flirtation with potential buyers?
Price Adjustments:
The Median Sales Price slid from $220,750 to $210,000 (a 4.9% dip) and even further when looking year-to-date (from $241,250 to $225,000, down 6.7%).
The Average Sales Price also saw declines—dropping about 9.8% (from $244,983 to $220,981) and 10.8% year-to-date. It looks like these urban dwellings might be on a bit of a price diet.
List Price Magic: While the percentage of list price received went up a tad for individual sales (from 98.0% to 99.0%), the year-to-date figures show a minor decrease (98.3% to 97.6%). Negotiations are clearly keeping things lively.
Inventory & Supply: Inventory is down by 16.7% (42 to 35 homes), and the months supply has shrunk from 1.7 to 1.5. Even in the condo corner, the market’s feeling a bit exclusive.
Wrapping It Up
So, what’s the takeaway from our February 2025 High Point housing saga? Fewer new listings across the board and a slight slowdown in sales pace suggest that both buyers and sellers might need to adjust their expectations. Single properties are holding their value, albeit with a touch more deliberation on the buyer’s side, while townhouses and condos seem to be on a bit of a pricing rollercoaster—perhaps due to a unique mix of supply challenges and buyer caution.
Whether you’re looking to sell and capitalize on that near-list price magic, or buy in a market that’s offering fewer, but perhaps better-curated, options, staying informed is your best bet. And remember, the real estate market is as unpredictable as your morning commute—sometimes fast, sometimes slow, but always an adventure!
Stay tuned for more updates, and feel free to Contact Me if you have any questions or need some guidance navigating our quirky High Point, NC real estate market.
Happy house hunting (or selling)!