The Graeagle Area sales continue to be disappointing through the third quarter of 2014. Total sales are off 25% compared to 2013 and the “days on the market” increased by 15% to 286 days. While the average sell price was up 2% ($246,574) the asking price compared to the sale price was off by 3%.
The first six months sales results show sales declining by 20% (33 vs 41) with an average days on the market of 354 as compared to 250 for 2013.
The first four months of 2014 show almost exactly the same number of sales as last year, 20 this year as compared to 19 last.
The real estate market is finally rebounding and once again the data shows that Graeagle Associates, Realtors is the market leader. The Graeagle Area Market Sales Summary indicates a significant improvement as compared to the last five years. The number of residences sold was up 20% over 2012 and the average sale price was up 19%. Sellers found some comfort in the fact that the sales price was only 6.5% below the asking price. Meanwhile, bank owned properties and short sales were down 25%. Local Area Market Sales
The Graeagle Area Residential Sales report shows all sales for 2013 by closing date. 2013 Sales
Sales of vacant lots and land continues to trail residential sales. However, land sales should increase as the housing inventory decreases. Lots & Land
The Sold Analysis report provides a snapshot of sales activity and pricing by local communities. Sold Analysis
The first nine months sales activity for the Graeagle Area shows an 18% increase in the number of units sold over the same period last year. The average “list price” was slightly down from the previous year but the “sell price” is only 5.5% off the “asking price.” Plus, the average days on the market has fallen from 263 to 232. All and all it appears that, in general, sellers are pricing their property to reflect the market conditions and buyers, as a rule, are realizing this. As the interest rates begin to creep up buyers are aware that this may be the last opportunity to take advantage of the situation.