How many times are you going to hear “You may be missing the boat if you want to buy real estate”?
Yes, interest rates are going up, making your buying power less. You’ll see from the following statistics that home prices are increasing, but it is still “A GREAT DAY FOR REAL ESTATE” because in the past, we’ve seen interest rates higher and home prices higher still.
Just don’t wait too long if you really want to buy something. Traditionally, prices continue to rise and if you buy now, you’ll be able to say “I got a great price at great terms!”
|May, 2013||May, 2012||April, 2013|
|Average Sold Price||$540,063.00||$525,996.00||$536,868.00|
|Average Days on Market||34||41||43|
|New Pending Sales||277||385||318|
Remember, units described encompass detached, semi-detached, townhomes, condominiums and coops. Of the active listings mentioned above, only 95 are detached homes; 84 are attached/townhouses and 209 are condos/coops.
If you’re thinking of selling, you’ll be happy to learn that the average sales price increased $80,804.00 since January. You’ll also notice our inventory of available homes for sale is shrinking.
Our agents at Avery-Hess, Realtors are experts in the field of real estate and we want to help. Want to know what your home is worth? We’re available to answer any questions you may have so don’t hesitate to contact us. Visit our website at www.AveryHess.com.
Information obtained from statistics supplied by Metropolitan Regional Information Systems, and analysis and comment by Patricia Mancini, Sales Manager at the Avery Hess, Realtors Springfield Office