$128,200 is the home median value in Winston-Salem, North Carolina. Last year the value of houses increased 7.1 percent. This is a hot market. It is predicted that the value of housing will increase 3.9% in 2018.
Winston-Salem has a per square foot list cost median of $99. The Metro area of Salem-Winston has a per square foot list cost average of $104, which is higher than in Winston-Salem.
$167,990 is Winston-Salem’s median cost of homes listed now. $132,400 is Winston-Salem’s median cost of homes that have sold.
$1,050 is the rent cost median in Winston-Salem. $1095 is the Metro area of Winston-Salem’s median rent cost, which is higher than in Winston-Salem.
Within the next few years, a factor that will have impact on house values is going to be foreclosures. 4.5 houses experience foreclosure per 10,000 in Winston-Salem. 2.5 houses experience foreclosure per 10,000 in the Metro area of Winston-Salem, which is quite a bit lower than in Winston-Salem. And the national foreclosure rate is even lower at 1.6 homes per 10,000.
The first thing that happens in foreclosure is having a delinquent mortgage. What does that mean? Mortgage delinquency means that a home owner misses making a mortgage payment.
1.6 percent of house owners in Winston-Salem are experiencing mortgage delinquency. This is the same amount as is being experienced nationally, which is 1.6 percent.
In the United States, the value of homes dropped 20 percent from 2007 to late 2011. As a result, quite a few home owners have their mortgages currently underwater. What does being under water mean? It means that a home owner owes a greater amount of money on their home than the value of their home.
10.5 percent of house owners in Winston-Salem are currently underwater mortgage wise. The Metro area of Winston-Salem has 8.3 percent of its homes currently underwater, which is lower than in Winston-Salem.