Spring housing inventory up 2.3%
That is according to a report released April 14th on Realtor.com. This is the official housing website of National Association of Realtors and it gathers listings from multiple services all over the U.S. Every month, the company surveys up to 250 metropolitan areas and reports information regarding consumer trends, listing prices, active inventory counts, supply and demand indicators, among other things.
The online marketplace reported Thursday that compared to one year ago, the number of searches on the Realtor.com website is up by 15.1%. Freddie Mac too expects a strong spring home buying season.
Realtor.com reported the national median sale price for March at $199,500, a quarter percent increase from February, yet a quarter percent decrease from one year prior. The Fort Myers-Cape Coral, Fla. metropolitan statistical area witnessed the greatest year-over-year increase in price, up 24.1%.
Other markets in which the median price rose significantly between March 2010 and March 2011 include Fort-Collins-Loveland, Colo. (up 6%); Columbia, Mo. (up 6%); Santa Fe, N.M. (4.8%); Miami, Fla. (up 4.6%); and the Virginia suburbs of Washington DC-VA (up 4.1%).
Areas with the largest year-over-year declines in median list prices include Santa Barbara, Calif. (down 19.6%); Detroit, Mich. (down 13.8%); and Reno, Nev. (down 11.5%).
Locally, here in Pembroke Falls we have 35 active listings. The median home is 4 bedroom, 3 bathroom and 3,288 square feet with a median listing price of $420,000. Several properties have seen a reduction in the list price, averaging 6.2% drop. As always, if you are looking to purchase your dream home at exceptional pricing, call us for an early inspection, we hate to see you miss out.
Properties are moving, since the beginning of this year we have seen 19 closings with an average sale price of $330,893, that works out at $125 per square foot. Most of these homes were 4 bedroom and approximately 2,700 square feet in size. What is interesting is that of these 19 closings, 8 of them were in the last 30 days with an average sale price of $340,905. So not only have there been more closings, there has been an increase in the sale price. Good news if you are selling.
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Call now on (954) 745-4735 and speak with Justin or Claudia Willard for first hand advice.
