The John Herman Team is pleased to release the latest results for the November 2013 real estate performance review in Hawthorn Woods properties, and all signs say that if you’ve got a home to sell that this is a great time to list.
Every indication in every category points to a strong market for sellers, and indicates that buyers need to be prepared to strike if they see a home they like. Prices are up, inventory is down, market time is down and months of supply are down.
According to the latest report the median price of a home in Hawthorn Woods was up 25.7% from a year ago. In November 2012 the average price was $383,000 and in November 2013 it was reported at $482,450. That is a significant increase and good news for sellers.
Another indication of a strong market is the number of homes on the market. In November 2013 there were 57 homes on the market, and in November 2012 there were 81. This is a 29.6% decrease. Fewer inventories mean more demand, another sign of strength, and a good time to sell.
Another supporting statistic for strong demand is that there is currently just a 4.9 month supply of homes on the market, versus last year when there was 10.6 month supply. This is an amazing 53.4% decrease.
In November 2012 5 home sales were closed, and in November 2013, 4 home sales were closed, a decrease of 20%. Given the overall picture of a strong market, this slight decrease of sales closed is not significant.
Listings were down for the same period a year ago. In November 2013 6 new listings hit the market, and in November 2012 there were 12 homes listed. This is a 50% decrease. Again, more homes are needed to keep up with demand.
And, evidence that homes are moving more quickly, and buyers are making faster decisions is the decreased time on the market. In November 2013 the average days on the market was significantly down to 87, while a year ago the figure was 264. This is a 67% decrease.
The overall analysis of these numbers indicates that it is a good time to sell and that buyers need to be ready to strike if they see a home they like in Hawthorn Woods Houses.