Posted on December 13, 2015 - at around 9 am AM by Bill Saunders
This is the SOLD home report (not to be confused with the asking price report I just posted). The data will be homes that SOLD in Garland County in the last 3 months. These are homes that have CLOSED.
Lakefront Single Family: 46 sold. Average price: $442,440. Median price: $337,500. Avg. D.O.M. was 157 days.
Residential Single Family: 191 sold. Average Price: $148,831. Median Price: $129,500. AvDOM: 123.
So for ease of review for both of us, I have copied the last report and here it is:
Posted on December 4, 2015 - 07:17 AM by Bill Saunders
This is the SOLD home report (not to be confused with the asking price report). The data will be homes that SOLD in Garland County in the last 3 months.
Lakefront Single Family: 47 sold. Average price: $441,324. Median price: $345,000. Avg. D.O.M. was 116 days.
Residential Single Family: 188 sold. Average Price: $151,503. Median Price: $136,950. AvDOM: 123.
So, one step further, figuring an absorption rate based on these figures, we have (if no new listings came on the market) enough inventory for between 9-10 months. The National Association of Realtors® stated that 6 months is the magic number. Based on this data, we are still in a buyers market this Fall. Having said that, it is NOT the buyers market of years past, do please do not act like it is when thinking about purchasing a home. Sellers are seeing signs of recovery so do not expect them to give you everything you ask for. When a home is priced at market price and is in a desirable area, it sells...yes...quickly and sometimes with multiple offers.
I hope the information is helpful to you. Keep in mind that your situation is unique, so it is best to seek out a Realtor® and have a meeting to discuss your goals and dreams and needs... the 3 things are not the same .