Home sales in the Greater Lakes region in January were once again up compared to a year ago at 93 closed sales, an increase of 34.8 percent from a year ago. That's the fifth consecutive month where the change compared to a year ago has been positive.
The increase in sales has led to stabilizing home prices. January's median sales price of $124,405 was 1.4 percent higher than a year ago. Yes, rising prices are ordinarily a pretty ho-hum and normal thing, but in light of the drop in prices that most parts of the country have seen over the last several years, "ho-hum" is a welcome phrase these days.
The Months Supply of Inventory in the region has decreased in the last year to 17.3, down 7.8 percent from the mark of 18.7 seen a year ago. That's still a very high mark, which means sellers still face challenging conditions that require smart pricing, home staging and intensive marketing.
Home not selling -ready to try something different?
Kathleen Lordbock -The Staging & Selling Team
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