The market stayed steady in the fourth quarter compared to the third quarter as 2014 came to a close. There were 25 sales in the fourth quarter, a few less than the 28 sold in the third quarter but the same amount as a year ago. The average sales price ($273,900) was down a tiny bit from last quarter ($275,484) and up from one year ago ($261,156). Average Days on the market(34) has increased from last quarter(26) and a year ago(24) as a bit more homes came on the market in 2014.
The fourth quarter ended the year strong for College-Glen but currently the market is starting to slow down a bit as we are in the traditionally slower winter months. The inventory (available homes for sale) is the highest it's been in a few years. That means the sellers are having to compete with each other on price and getting the buyer's attention. And buyers have more to choose from, so they are being a bit more selective. I expect that to continue through the start of 2015. However, the properties that are priced competitively and show very well are still getting sold. It's the over priced listings or the ones that are not in good condition are sitting and not selling right now.
Call or Email me if you have any real estate questions. I loves working with buyers and sellers in my great neighborhood of College-Glen.
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