*Data provided by IRCMLS Jan 1, 2011-Jan 30, 2012 single family homes in Indian River County and is deemed reliable but not guaranteed.
When comparing January 2011 to the same month last year the numbers are improving! Here is a quick breakdown of the above graph:
January 2011 January 2012 Difference
Homes For Sale 2,608 1,907 701 Less Homes Available
Homes Under Contract 164 241 77 More Homes Under Contract
Homes Sold 128 144 16 More Homes Sold
The great news is that the home inventory is still continuing to slide down which is the beginning sign of some market improvement. In my opinion, the reason for the improvement is that buyers for our market place are selling their property in their hometown, freeing them up to make a purchasing decision here. It is a big domino effect. Low interest rates and pricing do play a big role as well. In the Luxury Market buyers are finding the stock market very volatile so instead are choosing to put their cash into Real Estate to take advantage of the aggressive home prices and premium locations. These factors combined are driving up home sales which is shrinking the home inventory in our area.
Another key point is that the number of homes that went under contract in January have shot way up. In January 2011 there were 164 homes that went under contract versus 241 homes in January 2012. This means that the number of sales in February and March will be high. As a result, inventory will continue to decrease and new prices will be set for old and new inventory.
Consisting of two agents and one assistant, The Reynolds Team of Dale Sorensen Real Estate has the expertise and resources to help you find the best home to fit your needs. Our Team will show you creative ways to maximize your budget, find the best values, and shop for a mortgage. If you are thinking about selling your home, our Team has the experience and will think "outside the box" to get your home sold in this tough real estate market. Call Scott Reynolds 772-321-2113 or email Scott@MyReynoldsTeam.com for more information. The Reynolds Team consists of Scott Reynolds, Realtor; Shane Reynolds, Realtor 772-321-4119; Janice Reynolds, Team Assistant. Visit our newly redesigned website www.MyReynoldsTeam.com to learn more about us!
