January was definitely going to be an interesting month for local real estate because of the performance in 2012 when we saw 122 residential house close which was 56% above 2011. January is typically the lowest number of real estate closes each year in the area. January 2013 didn’t come in above 2012, but we saw 107 residential house closings which is 13% below last year but 37% above 2011. Click here for all of the local market report details
The median price of those homes closing this January was $143,000 and was the highest it’s been since 2009 for the month of January alone. Overall median price has been trending upward in the area and all signs point to that trend continuing.
Cash still dominates the market
Cash sale composed 58% of January 2013 residential house closings. Conventional loans came in at a strong second at 29%.
What to expect for 2013
We anticipate 2013 to be another strong year for the area. Inventory still remains at the lowest levels in years with about 890 houses for sale right now. Demand and “foot traffic” is continuing to be strong in the area. February is typically the month we see a strong increase in online searches and in just these first few days of this month this year we have seen a spike in those searches.
Disclaimer: Information based upon the Flagler County Association of Realtors MLS for Residential Houses. Information may be deemed reliable, but is not guaranteed