Just spoke to a realtor friend with a client who is searching for a house in the $500K - $1 million range in NW GSO and Guilford Co (Page, Grimsley, NW and Northern HS districts).

My friend found 186 of them, 109 built since 2006.

And the local market is said to be healthier than the national one.

Comments

[JAT]

Two things everyone needs to keep in mind the next few months -

1 - Those $750K and up houses were largely moving on the strength of folks cashing out of more expensive real estate in the NE and West. To the extent that THOSE markets correct, we will see a ripple effect.

2 - Local govt needs to understand that there is NOTHING that can be done about this corrective process. Throwing taxpayer money at it -- or failing to understand that property tax revenue may not forever trend up -- will do two indicators of confusion.

[Ed Cone]

Got any stats to support that geographical analysis as it pertains to Guilford County, JAT? I know Charlotte's housing market has been buoyed by that kind of inflow, but I'm not sure ours has.

[JAT]

Given statewide inflows, I see no reason why GCo. would be significantly different than Meck in this regard. Plus there is absolutely a transitive property at work where-by empty-nest 50-somethings cash out of corporate Charlotte -- often to fresh arrivals -- and de-camp to the coast, mountains, Triad, and Triangle.

We'll find out soon enough.

[Ed Cone]

"I see no reason why GCo. would be significantly different than Meck in this regard..."

Guilford County's economic and demographic trends have been significantly different than Meck for quite some time, JAT.

Kind of big news up this way, in fact.