with Century 21 Advantage
So what makes me think the real estate market is OK?
To sum it up quickly its smarter purchases. Consumers are buying lower priced homes.
In 2011 compared to 2010 $500K+ sales were down 27% and $750K+ were down 40%.
The higher end homes are still selling but not at the rate they were in the past few years.
Overall sales were up but it was the under $500K that contributed to that.
Single family homes – up 8% in 2011 over 2010
2011 – lowest priced $122,500; most expensive 1.07 million
Condos – up 21% in 2011 over 2010
2011 – lowest priced $50,000; most expensive $375,000
Townhouses – up 28% in 2011 over 2010
2011 – lowest priced $70,000; most expensive $305,000
1/2 duplexes – up 10% in 2011 over 2010
2011 – lowest priced $110,000; most expensive $430,000
So great numbers for a rebuilding real estate market. I think we have been to the bottom and now seeing positive light at the end of the tunnel. Slow steady increases is what stabilizes any market.
Need an opinion on your home? Wondering what the current market value is? Give me a call and I can give you a free market evaluation.
Thanks for reading
Ken Devoe – Century 21 Advantage