Yes...that title is correct. In fact, January 2013 posted the highest sales jump in 6 years. Our closings in January were the highest in 6 years, that's like since 2007 - remember 2007? Ahhh, good times...good times.
While January was down compared to December - this is actually fairly normal for this time of year.
Average Selling Price
January's home selling price was $139,213 vs. $137,916 a year earlier, which represents a 0.9% increase. The average price has increased year over year for 11 consecutive months. That's fantastic!
Now, we just need some inventory. Seriously, our inventory has continued to decline to 9,451 homes from 11,003 a year ago, down 14.1%. With current inventory rates remaining low, and buyers beginning to come out actively purchasing properties, we have what is appearing to be a bit of a sellers market. As prices are firming and continuing an upward trend.
Are you thinking of selling?
Seriously - if you are someone that is interested in selling their home I have one bit of advice for you. GET IT ON THE MARKET! Don't wait for Spring to come rolling around when all those other sellers decide to do the same. Get it on the market now, when there is not that much inventory and buyers will come by to check you out. Contact your real estate agent to discuss what's happening in your market...because it's happening quickly. And if you don't have someone for real estate advice, give me a call - I can connect you with a fantastic, well educated and experienced real estate agent that can show you what is happening in your market area and how it affects your value.
Chris Wood
cwood@starone.com
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