The Manatee Association of Realtors just released single-family home median price statistics for October 2011 this morning. Home prices increased across the board: for current listings, homes under contract, and homes sold during the month.
If it’s okay with you, I’d just like to say “woo-hoo!”
Combined with decreased inventory in recent months, this indicates that local real estate could be in a recovery period.
The report compares statistics from the month of October 2011 to the month of October 2010 for the following:
- median listing price
- median price of homes under contract
- median price of homes sold for the month
The median price for active listings (single family homes) increased from $218,950 in October 2010 to $250,000 in October 2011. (Median price indicates that half the homes on the market were listed below that number, and half were listed above it.)
The median price of homes under contract increased from $164,900 in October 2010 to $167, 859 in October 2011.
The median price of homes sold increased from $156,160 in October 2010 to $159,900 in October 2011.
For buyers, this indicates that prices were on the rebound in October… so don’t wait if you’re thinking about buying.
For sellers, it’s a great time to list. Reduced inventory means less competition for you, which translates to a better price and shorter time on the market to get your home sold.
source: Manatee Association of Realtors.
