As 2011 winds down, we would like to wish you and your family a quiet, safe, and happy holiday season as well as the best for the new year. If 2011 was good to you, we hope that you enjoy the same in the coming year. If 2012 was less than stellar, we hope that you find what you looking for in 2012. The good news is that nothing is permanent, and no matter what happened in the past, the future is always a new opportunity.
This is always a time of renewal in the real estate market. Over the next week, listings for properties for sale will likely reach their low point of the year. In January, as we all get back to work, you can expect a fresh crop of properties available for purchase along with the hopes and dreams tied to them. Even though we have had some devaluation over the last nine months, I am looking for some price stability in the months ahead. Since Spring often seems to be the time of the year that most people choose to move, we can expect to see increasing demand which often supports the market, even when inventory is growing as well. Of course, I don’t have a crystal ball, but I think that we are more likely to see a stable market then a dropping or rising market. But, only time will tell.
Over the last 30 days, 192 single family houses were sold, down by 25 houses from last week. The median price is up $13,450 to $539,950. The average house was on the market for 60 days. In the same time period, 98 condos were sold, up by 4 condos from last week. The median price is down $16,500 to $271,000. The average condo was on the market for 55 days.
There are now 1,597 houses for sale, down by 42 from last week. Condo inventory has fallen by 24 to 882 suites.
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