September 2014 Monthly Snapshot
One-Year Change in One-Year Change in
Closed Sales Median Sales Price
One-Year Change in Markets across the nation seem to be back on the recovery track after a brief
pause. One of the more encouraging aspects of this renewed recovery is that
new construction of single-family homes reached six-year highs in August,
according to the U.S. Commerce Department. Consumers are also finding more
listings in their search results than they have in years. Inventory is rising in many
neighborhoods as higher prices have motivated more sellers to list.
New Listings were down 3.8 percent for Single Family homes and 12.6 percent
for Townhouse-Condo properties. Pending Sales increased 14.8 percent for
Single Family homes and 10.4 percent for Townhouse-Condo properties.
The Median Sales Price was up 7.6 percent to $570,180 for Single Family
homes and 6.2 percent to $350,444 for Townhouse-Condo properties. Months
Supply of Inventory increased 3.2 percent for Single Family units and 3.3
percent for Townhouse-Condo units.
The departure of investors from the scene should benefit first-time homebuyers,
but student debt and sluggish wage growth have slowed that transition. The
economy is growing, but it’s growing at a slower pace than desired. Thankfully,
inflation remains tame, partly enabling the Federal Reserve to keep rates low for
longer, contrary to the forecasts of most economists.
Kurt Galitski
Meet Kurt Galitski - The Kurt Real Estate Group, your new best friend. Distinctive Strategies that Deliver Record-Setting Results. When you combine Kurt’s passion and knowledge of the real estate market, you really gain an appreciation for what makes Kurt different. But what truly sets him apart from the crowd are his 5 distinctive strategies and his property management… For Kurt, getting into real estate was not an accident, it was a deliberate and calculated decision to deliver a better experience to home buyers, sellers, and landlords that they have ever received before. Today, you could ask any one of hundreds of clients, read his Yelp reviews, or look at his track record of being featured in Orange Coast Magazine in excess of eight consecutive years and you too will say mission accomplished. www.KurtRealEstate.com www.KurtPropertyManagement.com 877-957-6677
Follow Me:
