As we begin a new year, we thought it would be a great time to go over the numbers from 2014. We are going to compare them with 2013 figures to see if our market is improving year-to-year. We will also put those numbers into context by comparing them with the local markets previous peak in 2006 prior to the market downturn. Let's take a look at some of the categories and see where we stack up:
Closed Sales
In 2014, we set a record for closed sales with 12,776 as opposed to 12,498 in 2013 and 11,455 in 2006.
Average Sale Price
The average sale price in 2014 was up 4% from 2013, and now sits at $184,683.Median Sale Price
The median sale price was also up 4% in 2014 from 2013.
Average Days on Market
The average days on market, or days a home sits on the market before selling, has decreased slightly. The average in 2014 was 50 days, after being 54 days in 2013 and 62 days in 2006.
Active Listings
Active listings went down a little bit this year. At this point in 2014, we had 3,403 homes on the market. Right now, that number is at 3,107.
A few more things to note: New construction closed sales were nearly identical in 2014 to where they were in 2013, and existing home sales were up 4.3% in 2014 from 2013.
There is a lot going on in this market, and the numbers are constantly changing. If you have any questions at all for us, be sure to give us a call or send a quick email. We'd be glad to help out.
