The average home values in seven Winston-Salem/ Forsyth County census tracts designated as Qualified Opportunity Zones (QOZ) have shifted in a scattershot fashion in the third quarter of 2021, according to national real-estate research firm Attom’s Q3 2021 Opportunity Zones Report.

QOZ are economically distressed tracts in which new investments, under certain conditions, may be eligible for preferential tax treatment. The goal is to spur economic development by providing tax incentives for investors who invest new capital in businesses operating in one or more QOZs.

The seven Forsyth tracts reviewed for the third quarter of 2021 are:

Tract 1: the central business district. The average home price was at $265,000 in the third quarter, down from the high of $270,100 in the second quarter.

Tract 3.02: the Kimberly Park neighborhood. The average home price was $74,750, up from $60,000 in the second quarter.

Tract 7: Innovation Quarter in downtown Winston-Salem. The average home price was $48,000, up from $42,000 in the second quarter.

Tract 14: Whitaker Park Business Park off Reynolds Boulevard. The average home sale price was $106,050 for the third quarter, down from a high of $123,500 in the second quarter. The average home sale price when the opportunity zone program began was $55,250.

Tract 16.02: Smith Reynolds Airport and neighborhoods south of the airport. The average home price was $38,000, down from a high of $67,500 in the second quarter.

Tract 17: Lakeside Villas multifamily housing development off Walkertown Road. The average home price was $ 135,000 in the third quarter of 2021. The average home sale price when the opportunity zone program began was $145,000.



Tract 33.13: the area along Horneytown Road. The average home price was $166,500, up from $159,500 in the second quarter.

Across the country, the report found that median single-family home and condo prices increased from the second quarter of 2021 to the third quarter of 2021 in 62 percent of Opportunity Zones. However, home values in QOZ were still significantly lower than most other neighborhoods around the U.S.

Is there anything that The Sharpe Mortgage Team can do for you this week? If you’re interested in purchasing a home or refinancing your current home in Winston-Salem or the surrounding areas, give us a call! We can discuss your financial goals and discuss a loan program that might be right for you.