2011 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.