The end of the year wrapped up pretty nicely. My wife and I spent Christmas with our three sons and their respective partners. It was great to have the family all together in one place, if only for a day or two.
The new year has been all about getting things organized, setting new goals for 2015 and introducing new systems to our workplace. Our office just went paperless, so while the long-term effects will be great, it’s been an adjustment for everyone! We’re also in the process of upgrading my personal database, so I’ll be better able to connect with you and really stay in touch!
Our end of the year stats are still a little slow in coming together, since we rely on them to come from our MLS, but in the meantime, here’s what we saw for December…
Average and Median Sales Prices continue to go up, year over year. As our market begins to fully recover, property values are increasing. Since we also have less inventory, homes are selling for higher, because there’s less listing competition on the market.
You can see that year over year, we’ve passed our previous two by a wide margin in December.
Even Year to Date sales were up over 2013 and 2012, which were running neck and neck in November. December gave us a little more of a margin.
You can see our Average time on the market is holding pretty steady.
Unfortunately, there’s a definite lack of houses on the market. You can see that we sold more than we put on the market in December. Overall, we’re seeing very low numbers of new listings.
You can see in this graph the total number of homes for sale over the course of the year. We haven’t seen inventory numbers this low since the year 2000!
With interest rates staying stable, and the new FHA Mortgage Insurance regulations, now is a great time to buy! But with the low number of homes for sale, it’s also a great time to list!
If you know of anyone who is thinking about buying or selling a home, give me a call with their name and number and I’ll be happy to reach out and see how I can help them!