New report shows the Triad's real estate market is beginning to cool

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.