Local real estate numbers
Posted Apr 5, 2011 04:24:07 PM.
This article is more than 5 years old.
First quarter numbers are in for the region’s residential real estate market.
They’re not record breaking numbers like last year, but, according to President of the local Real Estate Board, George Patton, steady numbers are good numbers.
During the first quarter of 2011, there were a total of 1474 homes sold. That’s 10.4% below last year’s record for the same period.
The 2011 numbers are slightly above the five-year-average. Despite the spike in March, the average sale price went up 5.4% over March 2010.
The board says average sale price can be useful in establishing long term trends, but not as an indicator that properties went up or down in value.
Patton also mentioned that on average, mortgage rates are still pretty low despite a mild increase. He pointed out that variable rate mortgages have stayed steady.
