While the Piedmont Triad has been seeing an acute shortage of houses, which has led to bidding wars and offers that far exceed asking prices, the Greensboro area has hit new lows when it comes to housing inventory. According to Triad MLS, there was only a 0.8-month housing supply in Guilford Country for February 2021. In other words, if no new homes were to be listed, it would take less than a month for the housing inventory to be depleted. The report marks a sharp drop from the 1.9-month supply in February 2020 – a nearly 60% decline.

In February 2021, there were 478 homes available in Guilford County, down 53.2% year-over-year. The city of Greensboro alone had 256 homes listed for sale in February 2021, down from 490 in February 2020. And the months’ supply in Greensboro was 0.8 month in February 2021, down 52.9% from 1.7 months that same time last year.

Neighboring counties have experienced similar trends. Rockingham County had a 1.3-month supply, down 53.6% from 2.8 in February last year. Randolph County recorded a 57% drop at 0.9 months, down from 2.1 months around the same time.

Are you looking to buy a home in Greensboro or any of the surrounding areas? The Sharpe Mortgage Team would love to help. Call us today to set up a time when we can review your financial goals and determine a loan program that might be right for you.