REAL ESTATE MARKET ACTIVITY 2015-2016 FOR THE GEORGETOWN DIVIDE
Real estate market data for The Georgetown Divide
provided by Cathy Sarmento of CoolRealEstate.com
Real Estate Market Activity 2015 Year at a Glance
Property Sales (Sold) January property sales were up 6.3% from Jan. 2015. Current Inventory (For Sale) Versus last year, the total number of homes available this month is lower by 8 units or 12.3%. This year's smaller inventory means that buyers who waited to buy may have smaller selection to choose from. Property Under Contract (Pended) There was an increase of 31.3% in the pended properties in January. THE BUYERS ARE OUT EARLY THIS YEAR! With less to choose from and more buyers than homes we are seeing multiple offers in many price ranges and locations.
Buyers are paying an average of 93% of the original asking price, this means homes priced within 10% of market value are selling or homes that are not selling are more than 10% over priced in the buyer's eyes. The average home took between 69 and 89 days to sell over the last three months - we expect this number to diminish as inventory dwindles.
Divide Real Estate Report Summary
The Average SOLD price in January for single family homes was $366,000. Median home prices increased 25.2% over last year. If you've considered selling, now is the time!
The price per square foot for SOLD listings in this area is $181., which does not take into account lot size.
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