The headlines in today's local newspaper read: Homes Sales in County Jump 33 Percent Over November 2012
That's good news, right?
The paper got their data from our local Multiple Listing Service's monthly real estate data release.
Here is what this data actually looks like:
As you can see the number of closed sales this past month in Thurston County have gone up 32.99% as compared to the month of November the previous year. Now look at the last column that shows sales price changes. Oops, there aren't any. That's right, the median sales price has not changed from the previous year. As a matter of fact, the average sales price has actually declined just a bit from $240,668 in 2012 to $240,045 in 2013.
Our market is still correcting from the real estate turmoil from 2005 to 2007. Our median home prices are currently back around 2005 levels. Once we have consistent sales price increases that are at least on par with inflation, we'll have a stable market. I believe we're close to being there.
If you'd like to be kept informed with complete data and not just headlines, let me know and I'll include you in my regular market updates.
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