Unit Sales Last Year Were Up Over Any Year Since 2006, But…………

Unit sales the last two years have exceeded any year since 2006, however average selling prices are still over 22% below the peak years of 2006 and 2007. What does this mean for buyers and sellers?

For buyers we interpret these statistics to mean that there is still room for price appreciation despite the fact that prices have risen the past two years. For sellers it means that homes purchased in the 2006 and 2007 time period have likely not returned to that price level and, despite wishes to the contrary, in order for homes to sell they will need to be listed at prices substantially lower than purchase price.

Consulting with a professional Realtor to do a realistic Comparative Market Analysis is the only way to know for sure.