While the numbers below show a dip in the average sold price from the previous month, the average sold price is actually up approximately $70,000 since the beginning of this year! You’ll also notice the average days on the market have significantly dropped as our supply tightens and demand continues to grow. New homes are hot right now, filling in the gap for the short supply of resale inventory.
I want you to remember that interest rates are still very low, which helped stimulate our economy and the housing industry to spur the recovery from the bubble burst. It’s great to see we’re bouncing back and if you’re thinking of selling or moving, now may be a great time for you.
|June 2013||May 2013||June 2012|
|Average Sold Price||$624,770.00||$627,041.00||$628,902.00|
|Average Days on Market||27||28||45|
|New Pending Sales||303||322||279|
Because, after all, even in the 5.00% range, interest rates are considered low and it’s still a great day for real estate!
Our agents here at Avery-Hess, Realtors are experts in the field of real estate. 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, Managing Broker at the Avery Hess, Realtors Springfield Office