New Peak Approaching, Market Waning

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A new market peak is approaching. With the median price of single-family, re-sale homes at $830,000 in May, we are only $38,500 off the all-time high of $868,500 reached in October 2007.

The rise has been fast and furious, and, like the stock market, buyers tend to get a bit skittish when markets approach new highs.

Some of the hallmarks of this rapid rise in the market have been:

To read the full report: http://hartland.rereport.com/

 

Trends at a Glance

(Single-family Homes)

 

May 13

Apr 13

May 12

Median Price:

$   830,000

 $   800,000

 $   635,000

Average Price:

$1,044,490

 $1,032,630

 $   820,288

Home Sales:

1,101

989

1,297

Pending Sales:

1,458

1,427

2,046

Inventory:

1,113

979

1,586

Sale/List Price Ratio:

105.8%

105.9%

101.8%

Days on Market:

22

22

45

Days of Inventory:

30

29

37

The Real Estate Report provides an automatic, easy to use, property analysis feature, a mini-CMA. You can access it in the Property Analysis tab. Input your address and get a list of properties around yours that have recently sold or are currently listed for sale, all on an easy to read map.http://hartland.rereport.com/ to see an example.

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