First Quarter Dacula Real Estate Numbers Show Prices Remain Flat

Last week, I discussed the fact that was at a 10-year low. In looking at the sales for the first quarter, low inventory is validated. I have also talked to many realtors and they all say that they have been busy in the first quarter. So, let’s take a look and see what the numbers are.

To establish a baseline, let’s look at the number of homes sold in the first quarter of 2011. Last year had 119 closed transactions with an average sales price of $167,044. That closed sales price represented 88.37 percent of the original listing price. These homes that sold were on the market an average of 121 days.

Now let’s compare those exact statistics to the first quarter of 2012. This year, we have had 148 closed transactions, with an average sales price of $167,807. While the average price remained the same, the number of transactions jumped 24.4 percent. The sales price in 2012 also represented 89.6 percent of the original listing price. The homes sold in 2012 were on the market an average of 119 days. There are currently 170 homes pending/under contract and I do not have the ability to compare that to the 2011 pending contracts.

Looking at the numbers, I would say that prices have flattened out and remained the same. The average days on the market and percentage off the original listing price also remained steady. However, there was a 25 percent bump in the number of homes sold.  With the current inventory at its 10-year low, I think it would be a pretty good time to be a seller. With prices still low, along with great interest rates, I also think it’s a great time to be a buyer. Which one are you?