Coldwell Banker Pacific Properties "MARKET UPDATE"
Aloha, If you have been checking out the market over the months or years, wondering when you should take some action, now is the time. Summer is typically the height of the real estate season, and statistics are showing that this will be a big summer. Compared to this time last year, sales of single family homes are up, and the median sales price is up too. Widely available home financing at low interest rates has buyers out shopping, but the number of single family homes for them to visit and compare is down almost 16% from this time last year.
Demand is up and supply is down. What does that mean to home sellers? Well, it means that conditions are just right to put your home on the market. We're seeing lots of traffic at open houses. We're also seeing multiple offers on well priced and well-prepared homes.
If you haven’t already paddled out to catch the wave, it’s not too late. But, we have to get going now. Give us a call or reply to this email and let’s talk about your home and your personal situation. In June 2012, sales of single family homes were up 12.5% over June 2011. The number of single family homes available for sale is down 15.9% from June 2011. Demand for your home could be extraordinarily strong if you list now.
Sales of Single Family Homes and Condos as of June 30, 2012.
There are also opportunities for buyers, especially due to exceptionally low interest rates that make the purchase of a home possible for more people. No matter your situation, let us help you with in-depth knowledge and information.
The median sales price for single family homes increased 10.2% in June 2012 compared to 2011.
The median sales price for condominiums continued to be very stable. Single family home prices have increased 8.7% year-to-date as of the end of June 2012 compared to the same period in 2011. If you’ve been waiting for perfect market conditions, now is the time for us to talk
For example, policies may specify that they do not cover construction defects. In that case, moisture damage resulting from a flaw in the construction might not be covered. Some policies, on the other hand, may have more extensive coverage for damages caused by mold, or lead problems.
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