Even though most people start their New Year’s resolutions on January 1, some people add resolutions as the year progresses. For some, that goal is realizing the dream of homeownership. Beginning the process of buying a home can be daunting, but it is easy enough to begin working on the first step – saving for a down payment. According to the National Association of REALTORS®' 2014 Profile of Home Buyers and Sellers, 65 percent of home buyers utilize their savings account for a down payment; however, buyers find many other ways to finance a down payment, including selling stocks or bonds, relying on gifts from friends or relatives, retirement funds or using the proceeds from another home sale.
Beginning to build savings should be a priority for potential buyers because it can take some time. According to NAR’s report, it took half of buyers a year or less to save for a down payment, while another 19 percent said it took between one and two years to build their savings account. Additionally, 29 percent said they needed more than two years to save.
Take a look at January 2015's real estate sales statistics.
January 2015 Midtown Montgomery Real Estate Market Update
Midtown Montgomery real estate sales statistics for January 2015, show the number of homes remained the same as January 2014. The average sales price decreased by 45.53%% to $97,298 for the month. The median sales prices decreased by 49.5% to $68,300, and market times increased by 15 days. The highest selling price decreased by 51.64%, and the lowest selling home price increased by 52.31% compared to $6,500 from January 2014.
| Midtown Montgomery |
January 2015 |
January 2014 |
| Homes Sold |
24 |
24 |
| Average Selling Price |
$97,298 |
$178,619 |
| Median Selling Price |
$68,300 |
$135,250 |
| Days On The Market |
154 |
139 |
| Highest Selling Price |
$309,500 |
$640,000 |
| Lowest Selling Price |
$9,900 |
$6,500 |
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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