Has the home search in Raleigh been stressful for anyone? Has the home of your dreams been taken off the market in a matter of days before you commit to an offer? Did you know that the average days
Year Over Year Sales Increases Reach Double Digits In 5 Price Categories
The National Association of Realtors’ most recent Existing Home Sales Report revealed that, compared to last year, the number of home sales are up dramatically in five of the six price ranges they measure.
Homes priced between $100-250K showed a 20.7% increase in number of sales year-over-year. This is an impressive increase, showing that November was an excellent month for home sales in this price range.
But surprisingly, the 20.7% increase in sales in this range was not the highest percent change achieved, as sales of homes over $250,000 increased by double-digit percentages with sales in the $750,000- $1 million range showing the largest increase, up 43.2%!
As prices in many markets continue to accelerate, it is no surprise to see the percentage of homes in the higher price ranges increasing.
Here is the breakdown:
Homes under $100,000 were the only group to show negative appreciation of sales at -2.4%. This not only points to the lower inventory of homes available for sale in this price range but also speaks to the overall strength of the housing market.
What does that mean to you if you are selling?
Houses are definitely selling. If your house has been on the market for any length of time and has not yet sold, perhaps it is time to sit down with your agent to see if it is priced appropriately to compete in today’s market.
Jimmy Swann, Broker/Owner for Swann Group Realty works towards the clients goals and understands how important that the Real Estate Agency you choose to employ and guide you through this journey is yo....
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