Here are the end of the year statistics from the MLS for the month of December.
I provide these every month to my past, current and prospective clients, because I believe strongly that an educated consumer is in the best postiion to make a wise purchase and/or sale in this market.
The inventory in San Marcos dropped 13% from the end of November, although this is likely due, at least in part, to the holiday season. Any changes in the period after the holidays will give us a good indication of what the spring market might offer. As you can see, prices are remaining fairly stable as compared to the previous month as well as a year ago, with just a small change in the median price for detached homes.
Despite the change in the inventory, there is much for buyers to see and choose from. This remains a good time to buy, as the rates are still VERY favorable.
AS OF DEC. 31, 2006 | ATTACHED HOMES | DETACHED HOMES |
Active | 148 | 374 |
Sold in Last 6 Months | 103 | 311 |
Sold/Pending In Last 6 months | 123 | 384 |
Absorption Rate (Solds) | 259 days | 216 days |
Absorption Rate (Solds Plus Pendings) | 217 days | 175 days |
Average Days on Market | 79 | 65 |
Median Price Change From 1 Year Ago | 0% | -1% |
Median Price | $392,500 | $585,000 |
% Chng. In MDN from prior month | 0% | 0% |
Average Price | $379,472 | $617,998 |
If I can provide more information, or answer any questions, please don't hesitate to ask. And if you are a first time buyer, or are relocating to the area, you might want to check out these blogs for more helpful information.
Have a great weekend!
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BTW, I would like to point out, although it may be obvious, that one should be cautious about drawing firm conclusions from summary data. The market can shift each month depending on the inventory that sells, especially at the high and low ends of the market. Trends over the long term will be most informative and reliable.
Don't hesitate to ask at any time if there are questions or you need more information.