Market Update: How will 2014 Stack Up in Regards to 2013?


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Today I wanted to go over some statistics from the month of February and also some year-to-date statistics as they appear in the MLS. Doing so every month allows us to gauge where the market is at, especially after coming off of a record-breaking year. Judging by the sales pace of the first few months of the year, we think it will be another great year – although it may not be as great as last year due to the low inventory.


As of March 10th, 2014:  
·There are 3,411 active residential listings which accounts for a 7.5% decrease in comparison to   last year at this time. Our inventory continues to drop; we need people to list their homes! 
·The Average List Price of homes that are currently listed on the market is $202,000 which is up 7% year-to-date (YTD). 
·The Average Sales Price (YTD) is $169,000 and that also represents a 7% increase in comparison to last year.
·The Existing Sales Price (YTD), which accounts for existing properties, has risen 7% to $152,000. 
·The Average Sales Price (YTD) of newly constructed homes has also experienced a 7% increase to $276,000.
 ·In the month of February, there were 923 homes that went under contract which represents a 7% decrease from last February.
·For YTD pending properties in the market, 1,811 have gone under contract representing a 1% decrease.
·678 homes sold in February, which accounts for a 6.5% decrease  
·YTD has seen 1,384 properties sell, representing a 2.7% increase in the total number of closed transactions.
If you have any questions about these statistics or real estate in general, feel free to give me a call or send me an email. Thanks and have a great day!  

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