2012, a year in review
In light of the market heating up, I just wanted to take a moment and review the year that was 2012, and how it may or may not impact you in 2013....
Another year has went by, and what a year it was! There were 32,000 new listings in 2012, a number that actually dropped by 5% from the 2011 number. Despite what you may have heard, the sales actually closed in 2012 went UP 19.1%, from 19,682 sales to 23,438. That spike in closed sales lead to a 16.2% increase in pending sales as well. In a market that is said to "not do well" the average sale price most likely will drop, which may, bring the pending and closed sales up for the year. What is great about the market in 2012, is not only did the amount of sales increase, but the PRICE of the average listing increased by 4.4%. Going from $221,000 to $235,000!! That is a great sign for things to come. In fact, there were increases across the board. Median sales price went up (6.3% increase), as well as time on the market, dropping a staggering 21.5%, from 143 days last year to 112 days in 2012! So not only are more homes selling for a higher amount, but they are selling even FASTER! This set up for a very nice increase in the total volume of sales. Which increased to $6.45 billion, from the $5.2 billion in 2011. If you need any help interpreting this data, or what this data means for you or your family, please don't hesitate to call us and we will be more than happy to help. 2013 is setting up to be a fantastic year, and we at the Rob Levy team are VERY excited to share it with you!
(to keep up with all market updates and what may be coming available in your area, go to Roblevy.com and click on the gray button titled 'newsletter'. Also, don't forget to 'like' our Facebook page at www.facebook.com/theroblevyteam)!