2013 Real Estate: Is the year off to a good start?
At Camden Hills Realty, we like to report on what is happening in our own backyard, Knox and Waldo Counties… The simple to the question above is YES!
This year we have seen about 71 single family homes sold during the first two months of 2013. Over the same period last year, that number was 57. It is a healthy increase approaching 25% in both units sold and in dollar volume. The average sale price is holding from year to year at $240,000… an encouraging sign of stability.
We continue to be cautiously optimistic about the prospects for 2013. Buyers and sellers seem to be on an even playing field where there is no heavy advantage or disadvantage weighing on the sale as we have seen in past years. There is renewed confidence in housing with the caution that value and pricing need to be in line with competition.
Interest rates are still at all time lows, which make buying most affordable especially with prices just starting to recover from several years of decline. For a “First-Time Home Buyer,” this is your market. 2013 is your opportunity. Buy now with a long term view. We recommend you work with a buyer’s agent to help you through the process.
On the selling side, we read where inventories are down making this a good time to list your property for sale. There is less competition right now which will help your home get noticed and sold. If you are going to list your property, it’s a smart time to talk with a Realtor now before the selling season begins.
Camden Hills Realty always recommends interviewing several agents/agencies to best understand your options and to benefit from each Realtor’s insight, expertise and market knowledge. Then make your decision as to which agent can best fulfill your needs and objectives. It’s an important business decision not to take casually. Finding the right broker is an important first step in the process.
Buying or selling this current market is in your favor. Make 2013 your year!