Winston-Salem’s housing market is experiencing notable changes, with rising home prices and significant development projects underway.
Current Market Trends
As of March 2026, the median sale price for homes in Winston-Salem reached $275,000, marking a 2.8% increase from the previous year. Homes are selling in approximately 45 days, slightly longer than the 39-day average from last year. The number of homes sold in March decreased to 213 from 236 the previous year, indicating a tightening market.
Affordable Housing Initiatives
The City of Winston-Salem is actively promoting affordable housing through initiatives like the Choice Neighborhood Initiative. This project aims to revitalize the Cleveland Avenue neighborhood by constructing 114 new mixed-income housing units, with completion expected in 2027.
Additionally, the city has allocated $3 million for the development of affordable housing, seeking proposals from qualified developers to create rental and owner-occupied housing.
New Developments
Several new housing developments are contributing to the city’s growth:
- Metropolitan Village: Located between Fifth and Third Streets, this mixed-use development includes 192 housing units and commercial spaces, serving as a key component of the East End Master Plan.
- Orchard Creek: Situated on W Clemmonsville Rd & Spach Dr, this residential community offers 64 energy-efficient apartments with modern amenities, catering to families seeking affordable housing options.
- Creekside at The Grounds: Adjacent to Wake Forest University, this student apartment community is part of a larger 100-acre mixed-use development, addressing the need for modern student housing.
Conclusion
Winston-Salem’s housing market is characterized by rising prices and a concerted effort to expand affordable housing through various development projects. These initiatives aim to accommodate the city’s growing population and diverse housing needs.