The real estate market in the Triad is beginning to cool off, according to new data from the National Association of Realtors.
The median price of a single-family home in Winston-Salem went up by 13.5% in the third quarter of this year, compared to the same time last year. That's significant, but more growth was seen between 2018 and 2020 when prices shot up by 22%.
Gay Cororaton with the National Association of Realtors says this isn't a sign that the market is tanking though.
“It's cooling, which is better for the market," said Cororaton. "It's not crashing, prices are not falling. Prices are just growing at a slower pace.”
Greensboro saw similar growth to Winston-Salem, but it's a little bit cheaper to buy in the Gate City. The average home price in Greensboro is $236,000. In Winston-Salem, it's $241,000.
Nationally, prices are up by about 16%, outpacing the Triad's figures.
Correction: An earlier version of this story incorrectly referred to average home prices, rather than median home prices.