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September 2017 Real Estate Climate Update

  • Sep 11, 2017

SALES UP 9.2% Closed sales of single family homes on less than one acre including condos for August 2017 total 903 compared to August 2016 when the total was 827. AVERAGE PRICE UP 9.3% The average closed price for August 2017 was $234,671 compared to August 2016 when the average price was $214,693.* MEDIAN PRICE UP 9.5% The median closed price for August 2017 was $218,000 compared to August 2016 when the median price was $199,000.* *NOTE: Does not represent home values. INVENTORY DOWN Inventory is down 1% compared to August 2016. Current inventory, as of this report totals 2,014 properties which represents a 2.2 months supply. DISTRESSED SALES DOWN Sales of Distressed homes accounted for 4% of sales in August 2017 compared to 6.2% in August 2016.

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January 2017 Real Estate Climate Update

  • Feb 08, 2017

SALES UP 7.7% Closed sales of single-family homes on less than one acre including condos for January 2017 total 378 compared to January 2016 when the total was 351. AVERAGE PRICE UP 8.8% The average closed price for January 2017 was $206,351 compared to January 2016 when the average price was $189,675.* MEDIAN PRICE UP 11.4% The median closed price for January 2017 was $195,000 up 11.4% from January 2016 when the median price was $175,000.* *NOTE: Does not represent home values. INVENTORY DOWN Inventory is down 25.3% compared to January 2016. Current inventory, as of this report totals 1,153 properties which represents a 3.1 months supply. NOTE: Months supply based on closed sales for January. DISTRESSED SALES DOWN Sales of Distressed homes accounted for 11.6% of sales in January 2017 compared to 15.7% in January 2016.

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December 2016 Real Estate Climate Update

  • Jan 30, 2017

December closed sales of single family homes on less than one acre including condominiums totaled 664 for December. This is a 10.9% increase over closed sales for December last year. The average selling price was $209,646 up 7.1% over the average selling price for December 2015 which was $195,769. The median closed sales price this December was $191,215 up 8.6% when compared to December 2015. The End of Year closed sales for 2016 totaled 7,571 up 9.9% over last year when 6,892 sales were reported. This is the best year-end total since 2006. The average sales price for the year is $212,144 up 7.4% over 2015 when the average sales price was $197,439. The median sales price for the year was $195,000 up 8.4% over 2015 when the median sales price was $179,900. Inventory continues to be extremely tight. The inventory as of this report stands at 1,156 single family homes on less than one acre and condominiums. Compared to last year the inventory is down 22.5%. New construction sales saw an increase of 18.9% for the year, 850 v. 715 respectively.

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November 2016 Real Estate Climate Update

  • Dec 09, 2016

SALES UP 39.1% Closed sales of single family homes on less than one acre including condos for November 2016 total 608 compared to November 2015 when the total was 437. AVERAGE PRICE UP 2.5% The average closed price for November 2016 was $206,837 compared to November 2015 when the average price was $201,858.* MEDIAN PRICE UP 9.2% The median closed price for November 2016 was $192,750 compared to November 2015 when the median price was $176,500.* *NOTE: Does not represent home values. INVENTORY DOWN Inventory is down 25.5% compared to November 2015. Current inventory, as of this report totals 1,309 properties which represents a 2.3 month supply. NOTE: Months supply based on closed sales for November. DISTRESSED SALES DOWN Sales of Distressed homes accounted for 6.7% of sales in November 2016 compared to 9.8% in November 2015.

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October 2016 Real Estate Climate Update

  • Nov 29, 2016

ANOTHER POSITIVE MONTH FOR CLOSED SALES IN SEPT. 665 closed sales of single family residential property on less than one acre including condominiums were reported for October. Total sales are up 12.1% when compared to October 2015 when 593 closed sales were reported. The average sales price for this October was $216,344 up 7.4% from October last year’s average sales price of $201,478. Year to date closed sales through October are up 7.6%, 6,290 closed sales compared to 5,847 over the same period in 2015. The average sales price through October is $213,027 up 8% over last year’s average sales price through October of $197,337. The median sales price for October was $198,000 up 10% from last October when the median sales price was $179,950. The year to date median sales price is $195,500 up 8.7% over the median of $179,900 through October. Inventory continues to be tight with 1,709 homes on the market as of this report. This number is down 17.6% compared to last year at this time. New construction sales are up 21.8% year to date, 699 this year through October compared with 574 over the same period last year.

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7 Reasons Fall Might Just Be the Best Time to Buy a Home

  • Oct 28, 2016

Spring and summer usually get all the real estate glory with lofty accolades as the best time to buy a home—and, of course, the busiest. Meanwhile, their seasonal sibling, fall, often gets tossed to the leaf pile by potential buyers who might think autumn is just about haunted houses and turkey dinners rather than house hunting.

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Terrified to Buy a Home? Your Top Fears Debunked

  • Oct 28, 2016

You wake up in a cold sweat. There’s something lurking in the dark, visible by flickering computer light. Something’s haunting you. It’s… the real estate listings! Deep down, you’d love to own a home, but whenever you take steps beyond idle window-shopping, a chill runs up your spine, and paralyzes you from moving ahead. We get it—you’re about to make a life-changing purchase, and you’re spooked. The main thing that home buying has in common with horror flicks: The fears are (mostly) mere figments of your imagination. So in case you’re harboring some heebie-jeebies, here are some of home buyers’ top concerns—tackled head on so you know what you’re really dealing with.

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August 2016 Real Estate Climate Update

  • Oct 19, 2016

Another strong month in closed sales of single family homes on less than one acre including condominiums for the month of September 2016. 781 closed sales were reported. The average sales price for the month was $215,557 up 7.7% when compared to September in 2015 which had an average sales price of $200,231. The median sales price was up 9.8% compared to September last year, $201,000 v. $183,000 respectively. Year to date sales through September are up 7.1% compared to last year. 5,619 compared to 5,247 last year. The year to date average sales price is $212,661 for 2016 compared to $196,924 over the same period last year, an increase of 8%. The year to date median price shows a similar increase of 8.4%. The median price through September this year is $195,000 compared to $179,900 over the same period last year. Inventory continues to be tight. As of this report there were 1,898 single family homes on less than one acre including condominiums on the market. This number is down 17.2% from last year when 2,293 properties were listed. New construction sales are up 20% over last year, through September. 626 reported sales compared to 522.

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August 2016 Real Estate Climate Update

  • Sep 20, 2016

Best August in closed sales since 2005! 821 closed sales of single family homes on less than one acre including condominiums were reported for August 2016. The average sales price was $215,382 up 6% when compared to August 2015 when the average sales price was $203,267. The median sales price was $199,900 up 8.1% when compared to August 2015 when the median sales price was $185,000. Year to date sales are up 5.4%. Through August 2016 closed sales total 4,836 properties compared to 4,590 over the same period last year. Year to date average sales price is $212,087 up 8% compared to last year’s average sales price through August of $196,451. The year to date median sales price is up 8.5%, $195,000 compared to $179,144 through August last year. Inventory continues to be a problem. As of this report there were 2,035 properties for sale compared to 2,400 last year at this time, down 15.2%. New construction sales are up 17.2% year to date, through August, 539 closed sales compared to 460 over the same period last year.

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July 2016 Real Estate Climate Update

  • Aug 29, 2016

Closed sales of single family homes on less than one acre including condominiums total 751 for July 2016. Compared to last month sales basically held steady. Sales in June totaled 756. The average sales price in July was $222,321 up 2.1% over June’s average sales price of $217,652. The median sales price for July was $208,000 up 5.5% over June’s median sales price of $197,200. Year to date sales through July total 4,015 for 2016 compared to the same period last year when 3,893 closed sales were reported. Sales are up 3.1% year to date. The year to date average sales price is $211,413 up 8.3% over last year when the year to date average sales price was $195,230. The year to date median sales price is $194,000 up 9% over last year’s year to date median sales price of $178,000. Inventory improved slightly but continues to be tight. As of this report the inventory totaled 2,114 properties up 1.6% over last month’s inventory. Based on current sales there is a 2.8 month supply of housing. New construction sales continue to outpace last year. New construction sales are up 19.7%, 462 through July compared to 386 over same period last year.

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June 2016 Real Estate Climate Update

  • Jul 22, 2016

Sales of single family homes on less than one acre including condominiums total 792 for June 2016. Compared to last month sales are up 12.8%. Compared to June last year sales are up 3.3%. The average sales price for closed sales in June this year was $217,604 compared to June last year of $204,764, an increase of 6.3%. Median sales price is up 6.5%, $196,975 this June compared to $184,900 last June. Year to date closed sales are up 4.1%. So far this year through June closed sales total 3,265 compared to 3,137 over the same period last year. The average sales price through June is $208,890 up 9.2% compared to the same period last year. The median price is $190,000 compared to $175,000 last year up 8.6%. Inventory continues to be tight. As of this report there is a 2.8 month supply. Inventory stands at 2,081 properties as of this report, up 1.8% compared to last month but down 15.6% compared to last year. Sales of newly constructed homes show a significant increase over last year through June, 388 compared to 322 last year, an increase of 20.5%.

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Choosing the Right Mortgage Term for You

  • Jun 28, 2016

Whenever I hear the word “mortgage,” my mind typically goes to the traditional 30-year home loan. It’s the most talked about for a reason. A 30-year fixed rate mortgage is the most popular mortgage term. In fact, according to the Mortgage Bankers Association, 71% of people applying for purchase mortgages in April 2016 went for 30-year fixed rate loans.

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May 2016 Real Estate Climate Update

  • Jun 28, 2016

The market is tight. Sales of single family homes on less than one acre including condominiums totaled 702 for May, up 8.3% over May last year when 648 homes were reported closed. The average sales price for May was $218,542 up 13.6% over May last year which had an average sales price of $192,345. Median sales price for May was $200,000 up 14.3% over May last year whose median price was $174,950. Year to date sales through May are up 4.4% over last year, 2,474 v. 2,370. The average year to date sales price is $206,364 up 10.4% over last year’s average sales price through May of $186,872. The median year to date sales price is up 11.7%, $189,900 v. $169,975. New construction sales are up 31% compared to last year through May, 317 compared to 242 over the same period last year. Inventory continues to be very tight. As of this report there are 2,044 homes on the market compared to 2,423 at this time last year, down 16.3%.

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April 2016 Real Estate Climate Update

  • May 23, 2016

Closed sales of single family homes on less than one acre including condominiums totaled 585 for April, up 5.2% over last year’s total for April which was 556 closed sales. The average sales price for April was $205,801 up 8.1% from April 2015 when the average sales price was $190,329. The median price for this April was $191,500, up 12.6% over April 2015 when the median price was $170,000. Year to date sales through April 2016 total 1,772 sales compared to year to date sales last year of 1,722, an increase of 2.9%. The average sales price through April is $201,539 while the median sales price is $185,000. These numbers are up 9% and 9.5% respectively. Inventory grew by 10.4% compared to last month however the current inventory is down 16.2% when compared to the same time last year. Current inventory as of this report is 1,934 properties for sale compared to 2,307 at this time last year. With the tight inventory new construction sales are up 29.3% compared to last year, 247 vs 191.

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