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Midtown Montgomery Real Estate Market Trends - October 2013

Saturday, October 19, 2013
by The Hat Team

The Fed recently announced they would continue their current pace of purchasing bonds until the economy was stronger. This bond purchasing program is the reason that mortgage interest rates are at historic lows. Rates began to increase over the last several months just on the anticipation that the Fed would announce that they would be reducing the level of bond purchases last month. When that didn’t happen, rates actually decreased.

That was great news for any buyer in the process of purchasing a home. However, this window of opportunity is expected to close in the very near future as most experts expect the Fed to taper the bond purchasers in December.

So, don't let this opportunity pass you by. Leverage your buying power NOW while rates remain low. Contact us today for help!

Take a look at sales figures in our local real estate market for September 2013.

Midtown Montgomery real estate sales statistics for September 2013 show the number of homes sold increased by 28% when compared to September 2012. The average sales price increased by 29% to $ 184,238 for the month. The median sales prices increased by 21%, and market times increased by 52 days from September 2012.  The highest selling home price increased by 33%, and the lowest selling home price decreased by 22% from September 2012.

While it’s tempting to rejoice over these huge increases, it’s important to remember that they compare just one month’s activity in each year.  And because Midtown homes are so different in size, degree of renovation, etc., sales values from year to year reflect more than just “more business” but “different business” as well.  A more important and meaningful statistic is this:  at the end of the September, 2013, selling prices market-wide are up 3.46%.  Yes!!!!!!

Midtown Montgomery September  2013 September 2012
Homes Sold 29 21
Average Selling Price $ 184,238 $ 131,321
Median Selling Price $ 155,000 $ 122,500
Days On The Market 166 114
Highest Selling Price $ 545,000 $ 367,500
Lowest Selling Price $ 20,000 $ 25,500


Search all Montgomery AL Real Estate And Homes For Sale.

Sandra Nickel and the Hat Team have distinguished themselves as leaders in the Montgomery AL real estate market. Sandra assists buyers looking for Montgomery real estate for sale and aggressively markets Montgomery AL homes for sale. Sandra is also an expert in helping families avoid foreclosure through short sales and is committed to helping families in financial hardship find options. For more information you can visit AvoidForeclosureMontgomery.com.

Interested in buying a bank-owned home? Get bank-owned listings alerts FREE!

You can reach Sandra by filling out the online contact form below or give her a call anytime.

Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.

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Midtown Montgomery Real Estate Market Trends - July 2013

Saturday, July 20, 2013
by The Hat Team

New data on Americans’ rising net worth is good news for the economy. Figures from the National Association of Realtors® show household net worth has completely bounced back from the recession and reached a new peak of over $70 trillion in the first quarter of 2013. Midtown Montgomery stats improved too. During the recession, household and non-profit net worth dropped by more than $15 trillion.

So what is fueling the increase? NAR research points to recovering home and stock prices and a reduction in debt as the driving forces. Real estate accounts for $18 trillion of the $83 trillion in household assets, and owner’s equity in household real estate is $9 trillion of the $70 trillion in net worth. Find out what your home is worth.

Take a look at sales figures in our local real estate market for June 2013.

Midtown Montgomery real estate sales statistics for June 2013 show the number of homes sold were the same when compared to June 2012. The average sales price increased by 28% to $151,562 for the month. The median sales prices increased by 17%, and market times decreased by 3 days from June 2012.  The highest selling home price increased by 31%, and the lowest selling home price decreased by 9% from June 2012.

Midtown Montgomery June  2013 June 2012
Homes Sold 35 35
Average Selling Price $ 151,562 $ 109,062
Median Selling Price $ 85,000 $ 71,000
Days On The Market 121 124
Highest Selling Price $ 600,000 $ 415,000
Lowest Selling Price $ 9,100 $ 10,000

For the latest Midtown Montgomery real estate market conditions in your area, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.

Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.

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Midtown Montgomery Real Estate Market Trends - June 2013

Thursday, June 20, 2013
by The Hat Team

The housing market outlook continues to be optimistic. Research by the National Association of Realtors® reveals that steady job creation and household formation have been helping release pent-up demand. Home prices are primed to rise in 2013 and 2014 due to lagging housing starts and an ongoing inventory shortage. Americans are also feeling confident in the housing recovery. According to a HouseLogic.com article, More than Half of Americans Think Home Prices Will Rise in Year Ahead, Fannie Mae’s April 2013 National Housing Survey revealed 51 percent of Americans now expect home prices to climb within the next year; up from 32 percent at the same time last year.

Take a look at sales figures in our local real estate market for May 2013.

Midtown Montgomery real estate sales statistics for May 2013 show the number of homes sold decreased by 21% when compared to May 2012. The average sales price increased by 18% to $ 149,493 for the month. The median sales prices decreased by 13%, and market times remained consistent with May 2012.  The highest selling home price increased by 43%, and the lowest selling home price increased by 40% from May 2012.

Midtown Montgomery May  2013 May 2012
Homes Sold 35 44
Average Selling Price $ 149,493 $ 122,453
Median Selling Price $ 105,000 $ 121,000
Days On The Market 139 139
Highest Selling Price $ 665,000 $ 380,000
Lowest Selling Price $ 17,000 $ 10,200

For the latest Midtown Montgomery real estate market conditions in your area, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.

Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.

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Midtown Montgomery Real Estate Market Trends - May 2013

Thursday, May 23, 2013
by The Hat Team

We've heard much about investors playing a role in the housing recovery, but they aren't the only major players. According to results from the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey for March, first-time homebuyers and current homeowners are also building a strong presence as they dominate the non-distressed market. Investors accounted for 13.3 percent of the market share for non-distressed properties, while current homeowners represented 50 percent of the market. First-time homebuyers also made up a significant portion at 36.8 percent. Read the entire article here.

Increased home sales result in higher prices. Are you an investor or a current home owner thinking about buying this spring? Now couldn't be a better time to buy...before prices increase and interest rates remain low. Contact me and together we can get the ball rolling.

Take a look at sales figures in our local real estate market for April 2013.

Midtown Montgomery real estate sales statistics for April 2013 show the number of homes sold increased by 3% when compared to April 2012. The average sales price decreased by 31% to $101,239 for the month. The median sales prices decreased by 11%, and market times increased by 15 days.  The highest selling home price decreased by 63%, and the lowest selling home price increased by 37% from April 2012.

As is often the case in an area like Midtown where prices vary widely, a single $600,000 sale skewed the April 2012 average selling price to an unrealistic high.  Last month's average is far more representative of reality.

Midtown Montgomery April  2013 April 2012
Homes Sold 32 31
Average Selling Price $ 101,239 $ 147,652
Median Selling Price $ 89,000 $ 100,000
Days On The Market 145 130
Highest Selling Price $ 222,000 $ 600,000
Lowest Selling Price $9,500 $6,000

 

For the latest Midtown Montgomery real estate market conditions in your area, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.

Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.

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Midtown Montgomery Real Estate Market Trends - April 2013

Friday, April 19, 2013
by The Hat Team

The 1968 Fair Housing Act prohibited housing discrimination on the basis of race, color, national origin, religion, sex, familial status, or handicap. Every April, REALTORS® celebrate Fair Housing Month to reaffirm their continuing commitment to fair and equitable treatment and a professional level of service for all in their search for real property.

Take a look at sales figures in our local real estate market for March 2013.

Midtown Montgomery real estate sales statistics for March 2013 show the number of homes sold decreased by 6% when compared to March 2012. The average sales price decreased by 6% to $87,165 for the month. The median sales prices increased by 48%, and market times decreased by 7 days. The highest selling home price decreased by 24%, and the lowest selling home price increased by 27% from March 2012.

Midtown Montgomery March 2013 March 2012
Homes Sold 30 32
Average Selling Price $ 87,165 $ 92,571
Median Selling Price $ 91,500 $ 47,950
Days On The Market 124 131
Highest Selling Price $ 286,900 $ 375,000
Lowest Selling Price $15,000 $11,000

 

Despite these disappointing numbers, we continue to see a real increase in buyer activity and now in pending sales. April’s numbers should look much better!

For the latest Midtown Montgomery real estate market conditions in your area, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.

Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.

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Midtown Montgomery Market Trends - January 2013

Friday, February 22, 2013
by The Hat Team

If you are wondering what home improvement projects will give you the best return on the sale of your home, think “curb appeal.”

When buyers are shopping for a home, the exterior can make (or break) the first impression. According to the 2013 Cost vs. Value Report, exterior replacement projects are among the most valuable home improvements that sellers can currently invest in, starting with the front door.

A steel entry door topped this year’s survey with an estimated 85.6 percent of the costs recouped at resale. The steel door replacement is also the least expensive of the 35 midrange and upscale remodeling projects included in the survey, costing $1,137 on average.

This is the 15th year for the Cost vs. Value Report. This year’s survey included more than 3,900 appraisers, sales agents, and brokers across the country who provided their opinions and estimates.

Exterior projects dominated the list with six of the top 10 most cost-effective midrange projects and eight of the top 10 upscale projects.

Take a look at sales figures in our local real estate market for January 2013.

Midtown Montgomery real estate sales statistics for January 2013 show the number of homes sold decreased by 31% when compared to January 2012. The average sales price decreased by 42% to $79,911 for the month. The median sales prices decreased by 51%, and market times decreased by 18 day. The highest selling home price decreased by 53%, and the lowest selling home price was the same as January 2012.
 

Midtown Montgomery January 2013 January 2012
Homes Sold 22 32
Average Selling Price $ 79,911 $ 137,622
Median Selling Price $ 61,050 $ 125,200
Days On The Market 133 151
Highest Selling Price $ 369,000 $ 785,000
Lowest Selling Price $9,000 $9,000

 

For the latest Midtown Montgomery real estate market conditions in your area, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.

Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.

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Midtown Montgomery Real Estate Market Trends for 2012

Thursday, January 24, 2013
by The Hat Team

On January 1 both the Senate and House passed H.R. 8 legislation to avert the “fiscal cliff” and the bill was signed into law by President Barack Obama the next day.

Below is a summary of real estate related provisions in the bill:

  • Mortgage Cancellation Relief is extended for one year to Jan. 1, 2014.
  • Deduction for Mortgage Insurance Premiums for filers making below $110,000 is extended through 2013 and made retroactive to cover 2012.
  • 15-year straight-line cost recovery for qualified leasehold improvements on commercial properties is extended through 2013 and made retroactive to cover 2012.
  • 10 percent tax credit (up to $500) for homeowners for energy improvements to existing homes is extended through 2013 and made retroactive to cover 2012.
  • Capital gains and dividends for individuals and families earning below $400,000 and $450,000, respectively, will remain at 15 percent. For those above those thresholds, the dividend tax rate will increase to 20 percent.
  • The first $5 million dollars in individual estates and $10 million for family estates are now exempted from the estate tax. After that the rate will be 40 percent, up from 35 percent.

Take a look at sales figures in our local real estate market for 2012.

Midtown Montgomery real estate sales statistics for 2012 show the number of homes sold increased by 12% when compared to 2011. The average sales price decreased by 5% to $123,573 for the year. The median sales prices decreased by 6%, and market times increased by 1 day. The highest selling home price increased by 17%, and the lowest selling home price was 100% higher in 2012 than 2011.

But don't despair! I just finished a study of the market in its entirety, and it clearly shows that the Montgomery MSA bottomed out sometime in 2012 but has already come back. The median selling price 12/31/2011 was $125,000 and 12/31/2012 was $126,000. That's the first increase in median selling price since 2007.

Midtown Montgomery 2012 2011
Homes Sold 329 291
Average Selling Price $ 123,573 $ 126,610
Median Selling Price $ 104,000 $ 110,000
Days On The Market 132 131
Highest Selling Price $ 785,000 $ 649,000
Lowest Selling Price $ 3,000 $1


The good news is that the level of buyer activity in the Midtown Montgomery market is up substantially, which may mean an upturn ahead.

For the latest Midtown Montgomery real estate market conditions in your area, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.

Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.

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Midtown Montgomery Real Estate Market Trends - November 2012

Tuesday, November 20, 2012
by The Hat Team

Hurricane Sandy’s immediate impact on real estate in the hardest hit Northeastern neighborhoods has become painfully evident, from New Jersey shore houses completely swept away by the sea to entire neighborhoods like Queens’ Breezy Point tragically leveled to the ground. But this latest natural disaster won’t just affect certain ZIP codes, it will weigh on America’s housing market as a whole, according to Forbes.com.

In many parts of the country a housing recover has begun. Nationally, home sales have been notably higher this year as compared to last. In September, existing home sales were up 11% year-over-year and pending sales up 14.5%, according to the National Association of Realtors. Prices have risen too, with the national median sales price $183,900, or about 11% higher than September of 2011.  Inventory has fallen drastically in many parts of the country, fueling the uptick in prices. The rising numbers have helped housing become a bright spot in recent economic reports, with analysts projecting that residential investment will positively contribute to gross domestic product this year for the first time since 2005.

Now, that rosy recovery is sure to dampen. “This will certainly create a negative in the short term,” says Lawrence Yun, chief economist of the National Association of Realtors. “The bottom line is we clearly anticipate a slowdown, but it will be temporary.”

Take a look at sales figures in our local real estate market for October.

Midtown Montgomery real estate sales statistics for October show the number of homes sold decreased by 25% when compared to October 2011. The average sales price decreased by 17% to $95,103 during the same period. The median sales prices increased by 19%, and market times increased by 18% or 22 days.  The highest selling home price decreased by 47%, and the lowest selling home price increased by 36%.

Midtown Montgomery Oct 2012 Oct 2011
Homes Sold 18 24
Average Selling Price $ 95,103 $ 114,128
Median Selling Price $ 90,500 $ 73,250
Days On The Market 124 102
Highest Selling Price $ 250,000 $ 476,000
Lowest Selling Price $ 20,700 $13,200


Search all Montgomery AL Real Estate And Homes For Sale.

Sandra Nickel and the Hat Team have distinguished themselves as leaders in the Montgomery AL real estate market. Sandra assists buyers looking for Montgomery real estate for sale and aggressively markets Montgomery AL homes for sale. Sandra is also an expert in helping families avoid foreclosure through short sales and is committed to helping families in financial hardship find options. For more information you can visit AvoidForeclosureMontgomery.com.

Interested in buying a bank-owned home? Get bank-owned listings alerts FREE!

You can reach Sandra by filling out the online contact form below or give her a call anytime.

Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.

Add Comment

Midtown Montgomery Market Trends - Sept 2012

Sunday, September 30, 2012
by The Hat Team

With the Presidential election just around the corner, it is time to look at what effect both President Obama and Mitt Romney have on real estate.

A second Obama term could provide homeowners and real estate investors:

  • President Obama supports extending homebuyer credit to those interested in purchasing their first home.
  • The Obama administration has consistently vouched for mortgage debt relief. While the evaluation of economic observers remain mixed, the Making Home Affordable Program (MHA) offers support for mortgage payment in addition to relief for those facing foreclosure and underwater mortgages.
  • The reduction of interest rates under President Obama has made borrowing and loans easier to sustain, which could spell positive ramifications for those who handle their mortgages with prudence.

Mitt Romney as president could provide boons to homeowners and property investors:

  • Mitt Romney has frequently been critical of lowered interest rates. Increasing interest rates would prove a blessing for homebuyers with a high volume of personal investments.
  • Mitt Romney broadly endorses rolling back government programs like MHA and encouraging the capital back into the private sector. Those who advocate this position (like his recently confirmed running mate) point to it as a means of stimulating the economy and overall curtailing the recession.
  • Those who hold faith in government-exempt solutions to lifting the economic quagmire will likely take heart with Romney’s favoring of cutting targeted programs like debt relief and housing loans, and letting the private sector economic gears turn unaltered.

Whoever ends up occupying the oval office come 2013 will quickly be forced to address our national property concerns.

Lets look at the statistics in our local real estate market for August 2012.

Midtown Montgomery real estate sales statistics for August show the number of homes sold decreased by 14% when compared to August 2011. The average sales price decreased by 11% to $100,084 during the same period. The median sales prices decreased by 10%, and market times decreased by 13% or 16 days.  The highest selling home price decreased by 24%, and the lowest selling home price decreased by 33%.

Midtown Montgomery Aug 2012 Aug 2011
Homes Sold 25 29
Average Selling Price $ 100,084 $ 112,293
Median Selling Price $ 85,000 $ 94,000
Days On The Market 106 122
Highest Selling Price $ 352,000 $ 465,000
Lowest Selling Price $ 8,000 $12,000


For the latest Midtown Montgomery real estate market conditions in your area, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.

Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.

 

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Midtown Montgomery Market Trends - July 2012

Friday, July 20, 2012
by The Hat Team

As Americans, we celebrated Independence Day this month flocking to places like Mount Vernon, Monticello and Peacefield to learn and understand more about our country's history and the men and women who shaped its future. The homes of founding fathers like George Washington, Thomas Jefferson and John Adams were more than shelter; they were places of respite, reflection and inspiration.

flags"Homeownership is an investment in our future, but it's also a gateway to our past," said National Association of Realtors President Moe Veissi, broker-owner of Veissi & Associates Inc., in Miami. "The homes of our country's founders offer insights into their characters and values, and reflect the spirits of their owners, just as our homes do for us today."

In some ways, historic homeowners bear little resemblance to the homeowners of today. George Washington inherited Mount Vernon when he was 20; only 4 percent of recent home buyers were between the ages of 18-24, according to the 2011 NAR Profile of Home Buyers and Sellers. John Adams was born in the house that would remain in the Adams family for four generations. Today, fewer than 3 percent of families in this country have received their primary residence as an inheritance, according to a recent Survey of Consumer Finances published by the Federal Reserve Board.

Women's rights to own property in America's early days were often based on their relationships with men, so it's not surprising that many women today view homeownership as its own form of independence, with single women representing more than one-fifth of all home buyers in the current market.

Homeowners across U.S. history do share some common ground, of course. Most of the founding families lived out their lives close to where they were born, and the same is true today. The U.S. Census Bureau reports that nearly 60 percent of Americans currently live in the state in which they were born, and NAR research shows that the typical buyer moves only 12 miles from his or her previous residence.

"I am as happy nowhere else and in no other society, and all my wishes end, where I hope my days will end, at Monticello," said Thomas Jefferson of his home. Although today's economic environment has postponed homeownership for some, numerous surveys show that most Americans still aspire to homeownership. In the NAR Profile, a full 60 percent of recent first-time home buyers cited the desire to own a home of their own as the primary reason for purchasing a home.

Lets look at the June statistics in our local real estate market? 

Midtown Montgomery real estate sales statistics for June show the number of homes sold remained consistent when compared to May 2011. The average sales price decreased by 25% to $113,872 during the same period. The median sales prices decreased by 39%, and market times decreased by 15% or 19 days.  The highest selling home price decreased by 1%, and the lowest selling home price decreased by 38%.

Midtown Montgomery June 2012 June 2011
Homes Sold 32 32
Average Selling Price $ 113,872 $ 151,399
Median Selling Price $ 80,250 $ 132,000
Days On The Market 111 130
Highest Selling Price $ 415,000 $ 417,500 
Lowest Selling Price $ 10,000 $16,000

Search all Montgomery AL Real Estate And Homes For Sale.

Sandra Nickel and the Hat Team have distinguished themselves as leaders in the Montgomery AL real estate market. Sandra assists buyers looking for Montgomery real estate for sale and aggressively markets Montgomery AL homes for sale. Sandra is also an expert in helping families avoid foreclosure through short sales and is committed to helping families in financial hardship find options. For more information you can visit AvoidForeclosureMontgomery.com.

Interested in buying a bank-owned home? Get bank-owned listings alerts FREE!

You can reach Sandra by filling out the online contact form below or give her a call anytime.

Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.

 

Add Comment

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