Home sales are expected to stay on an uptrend through 2012, although the performance will be uneven with mortgage constraints weighing on the market, according to real estate experts.
Lawrence Yun, National Association of Realtors chief economist, said existing-home sales have been underperforming by historical standards and will rise gradually but unevenly. "If we just hold at the first-quarter sales pace of 5.1 million, sales this year would rise 4 percent, but the remainder of the year looks better," Yun said. "We expect 5.3 million existing-home sales this year, up from 4.9 million in 2010, with additional gains in 2012 to about 5.6 million - that's a sustainable level given the size of our population."
Now take a look at how the Midtown Montgomery real estate market performed in April.
Midtown Montgomery real estate sales statistics for April show the average sales price decreased by 10% to $129,495 when compared to April 2010. The number of homes sold decreased by 33% in April. The median sales prices decreased by 20%, while market times decreased 20% or 27 days. The highest selling home price decreased by 5%, and the lowest selling home price increased by 29%.
|Midtown Montgomery||April 2011||April 2010|
|Average Selling Price||$ 129,495||$ 144,517|
|Median Selling Price||$ 100,000||$ 125,000|
|Days On The Market||105||132|
|Highest Selling Price||$ 649,000||$ 683,000|
|Lowest Selling Price||$ 8,500||$ 6,000|
For the latest Midtown Montgomery real estate market conditions in your area, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.
Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.