Belle Creek Monthly Market Minute January 2013 by Jennifer Prestwich REALTOR®
Home sales in Belle Creek for January continued with the seasonal slowing noted in December. The winter months are traditionally a slower time of year for home sales. This winter, we are experiencing a tremendous contraction in available home inventory. As a result, Belle Creek is continuing to see a welcome increase in prices and decrease in days on market.
- The turnover rate in Belle Creek for January is 8.3%. This is a significant increase over December's 7.4%. This is also a huge year over year increase from January 2012's 5.7%. Yet again, this means is that people who are entering the Belle Creek real estate market are actually selling their homes.
- Average Days on Market for all Belle Creek homes is 81. This number has increased slightly over the last month. December's days on market was 62.
- Average Days on Market for Cottage Style homes, under 1600 square feet, was 60 Days. This is an increase over December, however that can be expected this time of year. Home owners with larger homes - 1900 square feet and up - have been selling in an average of 96 Days on Market, which has remained steady over December.
- Average Sold Price for all homes was $189,632. The average sold price per square foot for all homes was $112. These numbers are continuing to increase in Belle Creek. Cottage style homes sold for $118 per square foot, while the larger style homes sold for $99 a square foot. As more and more non-distressed properties are being sold, the prices are strengthening.
The Belle Creek market continues to ameliorate, with prices steadily increasing in Belle Creek. I believe we will continue to see prices heading upward in this area. This is great news for home owners who are considering selling or those thinking of re-financing. If you had been thinking of a re-fi, but had been told by your mortgage lender that it wasn't a good time, you may want to call and re-visit the conversation.
Mortgage interest rates are still low, but are starting to increase for buyers, and inventory has shrunk. This means now is a great time to sell. If you have been waiting to make a move, now might be the perfect time. Every situation is different - so call Jennifer Prestwich at 720-341-5235 to discuss whether now is a good time for your move!
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