Every quarter Dr. Jud, of Jud & Associates puts out The Greensboro Housing Report.  Here is the down and dirty of what happened the 4th quarter of 2011:

• Prices are  down in the Greensboro market (over 4th quarter 2010 and 3rd quarter 2011)
• It is taking longer for houses to sell than it did it the third quarter of 2011 (avg of 126.9 days)
• It takes even longer the more expensive your list price is (ex: 232.2 days is the average for a house over 500k)

Now, none of this is all that surprising, really.  The market is what it is right now.  BUT houses are still selling, even the big ones.  The main thing to keep in mind is to have your house show off ready, staged, and priced right.  Price right=competitive and priced better than your competition!

Buyers-remember that sellers are learning they have to be priced right!  Be sure to ask your agent to show you the comparable sales before you make an offer that is only 75% of the list price.  If you want the house, the seller needs to see you are serious, so take it seriously.  If they are priced right, make a fair offer, not a crazy one.