Monday, March 21, 2011

Real Estate Minute #2: Good News in Real Estate!

I am here today to tell you there is GOOD news in real estate!
Many economists have stated the housing market is still frail and positioned to fall another 15%, 20% or even 25%. I think they are dead wrong, at least in our community. Those of us working this local market have our finger on the pulse of housing locally. We know what is happening here. And we like it!
Over ½ of the 100 major housing markets nationally are showing improvement. Take a look at these local statistics on residential, single family home and condo sales:
• Average Sales price from 2009 to 2010 was up 9.3%
• 2011 average sales price is already up almost 11% this year over last year.
• Number of sales from 2009 to 2010 was up 15.25%
• Year to date, the Midland Board MLS reports 188 sales
I think we can all breathe a collective sigh of relief. True, prices are not recovered back to where they were in 2005/2006, but we are forging down the right path.

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