While it’s still early in the year to determine if the market is really trending upward, a look at the hard numbers reveals that the Front Royal area real estate market still has opportunities for buyers to find good deals. Prices are still very low, interest rates are still comparatively low, and working with a knowledgeable agent and mortgage lender will help buyers find the right property. December figures were generally lower than the previous December, and January did not show any improvement.
|January 2010||December 2010||January 2011|
|Sold $ Volume||$ 4,605,212||$6,161,725||$3,550,500|
|Average Sold Price||$136,447||$181,227||$118,350|
|Days on Market||184||139||87|
Real estate is a long term investment. The concept of purchasing a home for the sense of security, shelter, peace of mind, and a place for the family is becoming more of a reality than the idea of making a quick buck on an investment. With that mindset, a return to normalcy in the market will be inevitable and the enjoyment of watching your investment grow in value will be just the icing on the home ownership cake.
Market data and commentary provided by Charlie Carroll, Managing Broker, Avery-Hess, Realtors.
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