Hello, Readers, There is some really interesting information I'd like to pass along to you. If you are a buyer, you may conclude that acting now is in your best interest. If you are a seller, you may smile a bit as well. For the month of February the GHVMLS reports that the number of closed sales of residential units increased from 51 units in February 2010 to 75 units in Feb 2011 - that is a 68% increase in units. The average selling price increased from 423,081 to 427,688. The average number of days a home was on the market also decreased slightly from 106 to 100, also a good sign. Perhaps the most significant stat is that the number of total available properties has dropped from 1217 to 1098. In the industry we like to see less inventory, as that keeps the market healthier and more balanced.
market has not rebounded for February WITH REGARD TO UNITS SOLD, down from 28 in Feb 10, to 21 in Feb 2011. But do not fret, as the average sales price has increased from 227,689 to 236,967 - so some mixed news there.
Remember that every buyer of property instantly becomes a homeowner upon closing, so we ALL should want this trend to continue. A slow appreciation in values means a healthy market.
These stats were provided by GHVMLS