MARKET WATCH! In December 2016 the Median Sale Price for single-family, detached homes was up 8.6% from last year to $190,000 and the Average Sale Price rose 7.8% to $222,115. The Absorption Rate (number of months it would take to sell the current housing inventory) decreased 25.6%, showing a robust Seller’s market of 3.2 months (6 months is equilibrium). The Average Days on the Market was only 59. The overall inventory of detached homes for sale dropped a whopping 20.9%. (GAAR)
What does this all mean to you? The bottom line is there is a scarcity of listings, values are going up, and NOW is the absolute best time to put your home on the market!
Thank you all for making 2016 The Sugar Team‘s best year yet and helping us become the most successful Century 21 team in the state of New Mexico!
Linda and Sutter