June 2013 Market Report for Carroll County

By Emily

Dear Clients & Friends,

With continued improvement in several market areas across the country, it’s most important to stay up to date on our current market, as it can lag behind major metropolitan areas by a year or more. The June 2013 is ready for your review: June 2013 Sales Stats.

For the Single Family Home market, the number of sales is up 2% compared to this time last year, not a meaningful increase. However, new listings are up 4%, which means there’s a little more inventory out there than in past months. The median sale price is about the same, but the average sale is way down, from $305,531 last year to $233,707 this year. I believe that this means some of the lower priced homes have been selling as there hasn’t been that big an erosion in values. The average days on market is shorter this month, from 161 this time last year to 150 this year, almost two weeks quicker. This indicates a leveling off of house prices after some nice increases last year.

Condo inventory is increasing — there was a 21% jump over last year at this time. Fortunately, the number of sold listings is showing a bigger improvement with a 46% increase in number of sales, which we really need to get the inventory back down. The average sale price is up by 22% to $180,022 this year over last. But while condos are selling for more money, it is mainly because the cheap ones are gone, rather than any appreciation in current inventory. It is also taking a little longer: 160 days on market compared to 148 at this time last year.

Our peak selling season is just taking off, so if you’d like an updated Market Analysis on your property, just ask.

Your Realtor,

Joy

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