real estate » Jo-An Lusk
ONE HOT MARKET
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Column by Jo-An Lusk
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sk any hard working realtor out there today and they will tell you the market is busy, to say the least. Some might even say it is a little crazy. The following data shows how the market has been changing since January:
-The Month’s Supply of Inventory (MSI) is the number of month’s needed to sell all of the inventory at the Average Monthly Sales Price. A lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The April MSI of less than 4 months was at its lowest level compared -The Average Sale Price of all homes sold with April 2012 and April 2011. (through April) in the Plant City market is up nearly 20 percent since January. Real Estate is one of the strongest indicators or how the economy is doing, no doubt. -The April Average Sale Price was at the Economy is about supply and demand. highest level compared to April 2012 and Today, supply of housing inventory is low April 2011. while demand continues to be strong. I am seeing many sellers who could not -The number of properties sold Year-to- sell a year ago coming back to try again Date is running 20 percent ahead of last as property values rise slightly. A small year’s YTD sales. increase is a good increase for many. Buyers need to focus on financing as rates continue -Average Days On Market (DOM) shows to be at their lowest in decades. On a loan, a how many days the average property is on small increase in price may affect a monthly the market before is sells. An upward trend payment by only a few dollars. However, indicates a move towards more of a buyer’s now will always be the best time to buy! market, while a downward trend towards more of a seller’s market. The DOM for With every home sold or built, jobs are April was 80, down 25.9 percent from created. When people go back to work, March and was at its lowest level compared the economy strengthens. A hot real estate to April 2012 and April 2011. As of this market is a good thing, it keeps America writing, the May average is around 60 moving. DOM.
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foCUS Magazine Plant City may 2013
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