Ability Realty

I would say that December, which included the Holidays, turned out OK. Average Sales Price was up. Median Sales price was down to the October number but don’t forget that is just the middle number of the 961 units that closed. A lot of the other statistics were lower I think because of the Holidays. Again I think we have come very close to the bottom of our market and I expect to see positive results over the next quarter. Do not expect strong results but steady increases.

We still have a lot of Short Sale properties and Foreclosures to handle, but our Listing Inventory is still low.

	Jul. 2011	Aug. 2011	Sep. 2011	Oct. 2011	Nov. 2011	Dec. 2011
Average Sales Price	$173,141	$154,944	$150,699	$151,812	$158,434	$161,471
Median Sales Price	$125,000	$122,200	$117,500	$120,000	$122,000	$120,000
Total Units Sold*	1124	1106	1064	982	1015	961
Active Listings	5412	5167	5155	5290	5191	4911
Days On Market	76	73	80	74	78	78
Listings Under Contract**	2009	2121	2059	2070	1996	1903
Sales Over $500,000	52	24	19	21	33	31

The figures on this table are subject to change due to late reportings and corrections. These changes are reflected in the next months statisical blog post after we receive the updated information. For this reason you will find inconsistencies if you compare the data on multiple tables.

* Closed during the month.
** For the current month (not the total listing under contract) 

Interest rates are still low and will probably stay in that range for the next 3-6 months. You can get a monthly payment that is very close to renting an apartment.

Our Economy has really taken a hit over the last three to five years. The blame can go to any number of people on both sides of the political spectrum but unless this administration gets more in tune with businesses instead of chastising them, we will not come out of this for possibly another two to three years. The public really does not know how hard this Health Care bill will be on everyone and the cost to each and I do mean each of us. Seniors in about three years will be paying almost 3 times their current premium for medicare, but no offsetting raise to pay for it. Some will have to cut back on many things and just exist. Now who was it that passed this Bill?  Who was it that said now that we have passed it we need to find out what is in it.  Go Nancy!!

Vote, but please vote smart.

Call me if I can help you with your Real Estate needs at 240-7130