Spring is here in the mountains. In the real estate world, this tends to be a time where sellers start to think about putting homes on the market in anticipation of our busy summer selling season.
The national economy has improved, real estate in major metropolitan areas has already taken a significant jump, and the stock market is up. These are all strong indicators that our resort market (which tends to lag behind major markets by at least one year) will be very strong this summer.
Here are the statistics for the overall First Quarter of 2014 compared to the First Quarter of 2013:
- Active Listings: Down 3%
- Number of properties under contract: Down 19%
- Number of properties sold:Down 13%
- Volume Sold: UP 18%
- Average Sales Price: UP 36%
When we see that the number of properties sold is down, while the volume and average sales price is up, it means for the overall first quarter of the year we have seen good activity in the higher end of the market. This generally precedes activity in the lower price ranges, so we’re looking forward to a busy season across the board.
If you are looking for additional housing market information or want to see current homes on the market, we are happy to help! Please contact Katherine at 720-4958, Rob Cronin at 720-2211, or visit our website at www.rixonandcronin.com.
Read more April Newsletter Articles here >