Posts Tagged ‘WRAR’

Local Residential Market Off to Promising Start in 2011

Monday, January 31st, 2011

Beach camping2011 is going to be an exciting year for our local real estate market. During the fourth quarter of 2010, our residential market showed significant signs of improvement over year-end 2009. This is an extraordinary sign that the market is stabilizing which will offer many potential homeowners and REALTORS® reason to continue being optimistic heading into the rest of this year.

While analyzing the growth within these six major zip codes in our region – 28403, 28405, 28409, 28411, 28412 and 28451, an average of the zip codes shows:

• Our average sales price had an increase of 3.2% from year-
end 2009.
   • Of the 2,587 sellers in 2010, 28.4% paid some sort of concession toward the purchase of the house.
• Our list to sales price ratio for 2010 was 94.65%, a slight decrease from 95.12% for year-end 2009.
• The average list price of the sold properties was $260,379, up 3.7% from year-end 2009.
   • The average number of days a property remained on the market for 2010 was 123 days, compared to 132 days for year-end 2009.
• The median sold price of $195,000 for 2010 was an increase of 2.7% from year-end 2009.