How is the real estate market in Columbia doing? Today, we'll compare numbers from the first of this year to the same time period in 2014.
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How is the real estate market in Columbia doing? We looked back from the first of this year through to now. Today, we'll compare those numbers to the same time period in 2014.
Right now, there are 27,000 active properties on the market. That is down 1% from last year, which is good news. Properties are being absorbed by a quicker rate now compared to last year.
This year, the average sales price was a little over $178,000, which is up 4% from last year. That's a 4% appreciation, which is great news! Properties are going up in value.
This year, 10,000 homes have sold in our area. Since there are still 27,000 active homes on the market, we know that over a third of homes are selling. That places us in a slight buyer's market. We're not in a raging buyer's market, but there is more inventory available than what's moving.
Finally, the list to sales price ratio is up 0.5%. This means that sellers are 0.5% closer to getting their list price this year than last year.
Right now, there are 27,000 active properties on the market. That is down 1% from last year, which is good news. Properties are being absorbed by a quicker rate now compared to last year.
This year, the average sales price was a little over $178,000, which is up 4% from last year. That's a 4% appreciation, which is great news! Properties are going up in value.
This year, 10,000 homes have sold in our area. Since there are still 27,000 active homes on the market, we know that over a third of homes are selling. That places us in a slight buyer's market. We're not in a raging buyer's market, but there is more inventory available than what's moving.
Finally, the list to sales price ratio is up 0.5%. This means that sellers are 0.5% closer to getting their list price this year than last year.
As you can see, volume is up, inventory is down, and sales prices are up. This is great news! We expect this great news to continue into 2016. While the market is up 3% overall, our team is up 11% year over year.
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