The housing market as a whole continues to improve. That holds true in our market. June numbers are in and the market looks strong. Current prices are about the same as they were in late 2005. If you purchased your home in 2002, the market value has once again beat the 3% appreciation mark. Median prices are about $60k more than they were at the bottom of the market in 2011. June 2013 sales of 3760 are up 12% over June 2012 sales of 3344. Distressed properties have dropped to only %12 of the market (still a decent chunk) over %26 last year. Median home prices are up 21% over June 2012. The average days on market is 45 days.
What's it all mean? Well, I think we've hit a sweet spot. There is good financing, but it's not reckless. Prices are not too high, and not too low. There is inventory, but it is moving rather quickly. Buyers are getting what they need and Sellers are getting what they need in a timely manner. If these factors all hold, the market should stay nice and strong.
