Well we didn't sell quite as many in February as in January, but it is a short month and we were just one house shy of a tie. The good news is that it was better a bit than February of last year. Hopefully 2015 will continue to show improvment in our market.
There are 289 homes for sale currently on Lake Sinclair (Milledgeville/Lake Sinclair MLS) and 40 contingent contract and pending homes. That puts us at about 29 months of inventory, which is slighty higher than last month. But with all those pendings I'm expecting a good number of closings in March.
If you are interested in finding a home on Lake Sinclair check out Lake - Sinclair . com site to see what's available. You can just browse or go a step further and by providing us with an email get updates and save your search.
The best news is that the average sales price was up about 22.5% over January. That doesn't necessarly mean that prices are climbing that fast, but it does tell me that more than just foreclosures and distressed sellers are selling their homes. None in the "luxury" price range in our market of more than $500,000 sold in February. The higest sale was $300,000 and the lowest was $163,000.
Our price increases and decreases have been like a roller coaster since the "bottom" of the market which history tells us was December of 2012 where we began this roller coaster ride after 5 years of steady decline.
The days on the market were slight higher than January, but not terrible. The average was 183 up from 134. 60 is a stable market, so we're still clearly in a buyers market, but as you can see from the chart we had many months over the past 5 years with averages over 200 and nearing 450 and anything below 200 is okay with me.
I'd be happy to email you monthly market reports if you are "watching" the market to determine if you are in the market to buy or sell. You can call me with your email address to get added to my monthly newsletter that includes our market reports. It also includes some neat other things as well. You can also email me with "please send me market reports" in the subject line to tammy@lake-sinclair.com
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