Even though it may feel like we’re in the middle of July outside with the 90 degree heat, It’s April and the Spring market in local real estate is just getting started! Here’s a snapshot of the Davidsonville market using the latest figures that were published for March 2013.
Average Sold Price March 2013: $600,429
Average Sold price March 2012: $519,375
This is really great news for anyone of the lovely residents of D’Ville who may be thinking of selling this spring. Prices are up, and have been on a steady incline every month! The increase in average sold price is an indicator that the market is stabilizing. That’s great news for all of us.
Average Sold Price to Original List price ratio March 2013: 92.0%
Average Sold Price to Original List Price Ratio March 2012 : 79.0%
Let me explain: The original list price is pretty self-explanatory; it’s the price that a homeowner originally places their home on the market for. Over time sellers may make price improvements to their home periodically until they reach the “magic number” that gets it sold. In March of 2012 sellers were netting about 80% of what they originally listed their home for. No bueno. Last month the figures were looking much better for sellers, homes were selling for about 92% of their original list price. It looks like sellers are able to pocket more of their cash proceeds now than they were this time last year. More good news!
Average Days on Market March 2013: 81
Average Days on Market March 2012: 144
Let me continue to spread the joy: Yes, the average time it will take to sell your beautiful abode in Davidsonville is down over 43%. Who doesn’t want to sell their home quickly? More wonderful news, right?
Essentially what you now know is that the Spring market is in full swing in Davidsonville. If you are thinking about selling, it looks like you’ll be able to sell for more money in less time than you could have before. Who doesn’t love that?
Now, go out and spread the joy to all of your neighbors!