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A Good Start To The Year

February 2012

January got off to a good start. Nothing spectacular, but positive. There were 34 sales which made for a total volume of $5.7 million dollars. Both numbers exceeded January of 2011 which produced 29 sales for $5.4 million in volume.

In fact, the 34 sales were the highest number of January sales since 2007!

As always, the first few months on any year is really not much of an indicator of what the rest of the year will be like. We will not get a good feel for the market until we get into the spring selling season.

I am encouraged about the amount of activity we are seeing from prospective buyers. I'm sure it's a combination of great inventory, great prices, great interest rates, great agents and certainly great weather. Can you believe it?

In looking over the 2011 real estate activity in the MLS, I see that there were nine (9) million-dollar sales processed. This compares to 5 in 2011. Thirty-six properties priced between $500,000 and $1,000,000 were sold in 2011 compared to 29 in 2010. Higher end properties showed a definite upswing in the 2011 market.

The price range that suffered the most in 2011 was in the price range of $250,000 to $500,000. There were 121 sales in 2010 compared to 108 in 2011.

$100,000 to $250,000 and $10,000 to $100,000 ranges were virtually the same.

I think we can draw from this information that the market has probably bottomed out. The number of sales over the last three years was pretty stable. Median price was $130,000 in 2009, $141,050 in 2010 and $140,050 in 2011.

The agents at ERA Starr Realty pride themselves in staying on top of today's real estate market. They are there for you. Let them help you realize your real estate dreams.

Until next time,

Dennis Starr
Broker/Owner, ERA Starr Realty
dennis.starr2@ERA.com
920.743.4321