End of year sales show the best numbers since 2007! Total sales for 2015 came in at 6,683 (single family homes on less than one acre including condominiums). 2015 total sales were up 17.7% over 2014 when 5,829 sales were reported. The average sales price for 2015 was $197,593 up 6.1% from 2014’s average selling price of $186,251. The median price was up 7.1%, $179,900 vs. $168,000.
Inventory continues to be a problem. As of the first of the year the inventory stood at 1,491 properties, down 20.6% from the first of the year in 2015. New construction sales for 2015 totaled 714, up 9.7% over 2014’s total of 651.
I believe the market will continue along its slow steady increase of units sold and prices on the rise. If inventory continues on the decline, however, we could see prices really start to take off again. Now is definitely the time to buy as rates are still hat historic lows, but likely to rise by the end of the year and prices are still reasonable. It is a good time to sell, also as there are good, qualified buyers out there looking for well-priced homes. If you are thinking about buying or selling, now may be the time. Call me today and let’s explore the market to see if it is the time for you to sell and/or buy! You can reach me, Sabrina, at 509.879.8800.