Jump ahead of the Spring Market! Listing your home in the spring which has been the traditional selling season was once considered wise. for Avalon and Stone Harbor Homeowners this is no longer true !
The 2012 home sales in Avalon and Stone Harbor make a compelling case for sellers who would like to get a jump start !
The most recent 2012 numbers paint a very clear picture, and indicate NOW is the best time to list your property for sale.
December 2012 there were 131 Single family homes sold in Avalon.
Average list price was $1,665,696. Average sold price was $1,530,780.Average days on market was 238 days.
December 2011 there were 107 single family homes Sold in Avalon. Average list price was $1,719,941. Average Sold price was $1,561,836. Average days on market was 277 days
In 2012 there were 79 Condo/ townhomes Sold in Avalon. Average list price 2012 Condo/ townhouse Avalon was $690,943
Average Sold price 2012 of Condo/ townhouse in Avalon was $651,518.Average days on market was 264 days
In 2011 there were 68 Condo/ townhomes Sold in Avalon. Average list price 2011 Condo/ townhouse Avalon was $766,395. Average Sold price of Condo/townhouse Avalon in 2011 was $715,757.Average days on market=273 days
December 2012 there were 89 Single family homes SOLD in Stone Harbor
Average list price was $1,795,993 . Average sold price was $1,599,106 .Average days on market was 351 days.
December 2011 there were 58 single family homes SOLD in Stone Harbor. Average list price was $1,964,567 Average SOLD price was $1,702,840 Average days on market was 307 days.
In 2012 there were 42 Condo/ townhomes Sold in Stone Harbor Average list price in 2012 for Condo/ town house in Stone Harbor was $627,280 .Average SOLD price 2012 of Condo/ townhouse in Stone Harbor was $574,250 .Average days on market was 326 days
In 2011 there were 19 Condo/ townhomes Sold in Stone Harbor. Average list price 2011 Condo/ townhouse Stone Harbor was $596,305. Average Sold price of Condo/townhouse Stone Harbor in 2011 was $551,578.Average days on market=351 days
Why delay? Do it now and take advantage of this busy Real Estate Market!
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There are good signs that 2013 will be a year of recovery for the housing market. 2012 is the first year since 2005 where the year ended in positive territory, and if 2013 is anything like 2006, it could mean we are headed for a strong rebound. There is an urgency to buy now as home prices continue to increase and mortgage rates are at historic lows.
Home sales this month increased 14.5% from last year and 5.9% this month to a seasonally adjusted rate of 5.05 million units, the highest level since November 2009. Distressed homes ( which include short sales and foreclosures that traditionally sell for 15%-20% less on average compared to non-distressed homes) accounted for 22% of November sales, down from the 24% the previous month and 29% last year. NAR Chief Economist Lawrence Yun state," The market of distressed property sales will fall into the teens next year based on a diminishing number of seriously delinquent mortgages." This is a promising sign, but the amount of distressed properties is still high by historic standards.
This month's mortgage rates hover near record lows at 3.37%! A 1% increase on a 30 year fixed rate mortgage is equivalent to a 10% increase in price. Today's historically low rates in this rebounding market have fueled urgency for serious Buyers to Buy Now!!
With mortgage interest rates at historic lows, there has truly never been a better time to keep an eye on new fresh listings. Reduced inventories and improving buyer demand are contributing to stability and growth in home prices. Now is truly an ideal time to be a buyer in this real estate market!