The increasing amount of green on Monroe’s chart is an indicator of a strengthening market. Let’s dig into the details. Sale prices have increased significantly, inventory is much lower, and the Average List to Sales Price Ratio is a very good 96%. While Monroe is still in a Buyer’s Market (the 12 month figure is used for the absorption analysis and a supply greater than 6 months is considered a Buyer’s Market), the trend is towards a more balanced market. It looks like Monroe’s real estate market hit bottom in Q1 2012 and a recovery is underway.
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