Team Price > Search > Market Statistics > December 2012

Published January 21, 2012 / Team Price Real Estate

It was largely a year of recovery for housing across our nation. Markets resolved to shed their excess weight, appeal to both existing homeowners and renters alike, and learn to play nicer with banks. Hey, three for three isn't too bad. But there's more work to be done. Here's how the final month of 2012 finished up.

Prices rallied higher.

  • The Median Sales Price increased 11.1 percent to $207,750.
  • Days on Market was down 21.4 percent to 66 days.
  • Absorption rates improved as Months Supply of Inventory was down 39.7 percent to 2.8 months - the lowest in over a decade.

Detailed Market Report (pdf) 

With the inventory this low, buyers are getting frustrated and sellers are getting aggressive. Economic growth is on an upward trend and several prominent housing indices continue to showcase market turnaround. Momentum is on our side, though it won't necessarily be fast, consistent or universal. But after five or six challenging years, it's a welcomed change of pace. Plenty of opportunity lies ahead. Here's to a healthy and prosperous year!

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