It's been an interesting journey the past few years as we look over the number of single-family homes that have sold in Ozaukee County. In January of each of the past four years, we have seen a steady increase while other months have shown a mix of ups and downs.
Regarding sale prices, there was a slight increase this past January over January of 2012. Because of low inventory in some price points and competitive pricing, some homes are even receiving multiple offers, which will start pushing prices up. If this type of demand begins in other price points, as well, we'll likely see an overall increase in prices.
One of the nicest trends we're starting to see is a decrease in the number of days on market for single-family homes. The number of days are counted from the day the house comes on the market until it is listed as "pending" in the multiple listing service (MLS), which means all contingencies have been removed. While the number of days is up slightly from December 2012, we are down from January of last year. With houses moving quicker, buyers are starting to realize they may not have the luxury of waiting to make a move like they've had the past few years.
What we are seeing so far in February is 24 sold units, with an average sale price of $277,976, which is up from January's average of $254,089. The average days on market for those sold homes is 150, which is also down from January's average of 164. There are also, as of today, 31 units in pending. Homes are moving in the area, so for any buyer considering purchasing a home, this could very well be the best time to take that step.
Originally posted at http://peggywester.com/happening-ozaukee-county-real-estate-january-2013/
Comments(0)