Health & Fitness
April 2011 vs. April 2012 Real Estate Report: Numbers Will Surprise You
Interest rates are at record low levels and if you are thinking about buying or selling it is time to get off the fence.
I just finished running the numbers for the real estate sales and price figures for Dacula, Ga. and Hamilton Mill for April 2011 vs. 2012 and I had to double check them to make sure I had entered my information properly.
One of the main factors driving sales in our area is time on the market and sales price. Most people would think that with all the continued negativity we hear regarding real estate that the numbers would be down, but let me give you some good news.
Both 2011 and currently 2012 have been very good years for my team and we continue to see a strengthening market and with very low inventory. This bodes well moving into the second half of 2012 and beyond.
Find out what's happening in Daculafor free with the latest updates from Patch.
April 2011
Dacula Homes Sold: 50
Find out what's happening in Daculafor free with the latest updates from Patch.
Average Sales Price: $153,611
Average Days on Market: 107
April 2012
Dacula Homes Sold: 50
Average Sales Price: $165,181
Average Days on Market: 94
This represents a actual increase in sales price YOY (Year Over Year) of 7.5 percent and a average days on the market decrease of 13 days.
What this means to you is that the market is staying relatively flat sales-wise (I think we will see a large increase in May's sales) in April 2011 vs. 2012 but, with both price increases and time on market decreases, these numbers are overly positive.
Interest rates are at record low levels and if you are thinking about buying or selling it is time to get off the fence. Price increases for buyers is a negative while they are obviously the opposite for sellers. Also a slight increase of only 1 percent in interest rates brings your home buying power down roughly 10 percent, so don't wait to buy. The bottom of the market in my opinion has already passed you by, so don't wait any longer.
Short sales or what I call pre-foreclosure sales are still active but slowing and those sales along with foreclosure activity will continue to be a factor in pricing levels but we are working our way through them.
If you are thinking of buying, selling or investing in real estate give me or another real estate professional a call now.