I have been dreadfully behind on my market reports. I was so far behind in fact that I got an email this week asking "are you still doing market reports?" So I got busy and hope to catch up by the end of the week, if not next week for sure.
Starting with the good news first for 2015 volume was up tremendously. While at the height of the selling "season" last summer we dipped below a year's inventory it was back up to 19 months of inventory at the end of the year. The best news for 2015 as whole was that 145% of 2014's total homes sold on Lake Sinclair. The number sold was up from 170 in 2014 to 247* in 2015. December year over year was way down. Perhaps the rainy weather kept people out of the market and maybe it's even the election. In my experience presidential election cycles are slower periods that the other 3.
Now for price... as you can clearly see from this graph price is not in an upward trend. It looks and feels like a roller coaster. Ups and downs and little moves at best. Maybe with starting the year at less inventory than we had last year sellers can hope to see some values increase on Lake Sinclair again, but again looking back to the next election year you can see mostly a downward price trend with a bump here and there around the height of summer months so I don't predict a huge jump, but I expect summer months will see some increases in price averages and price per sq. ft. December brought in an average price of $215,700 with a median of $250,000. The average price per square foot was $120.00 for December 2015
December's best news was days on the market. And while 137 is still much higher than the stable market of 90 days putting Lake Sinclair still clearly in a buyer's market you can see for the past few years we beat the December numbers. December of 2014 had over a 250 average days on the market. So with the exception of August 2015 we saw steady improvment in how long it takes to sell a home on Lake Sinclair.
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 firstname.lastname@example.org
If you are searching for property on Lake Sinclair... start with Lane Realty