The 2011 real estate market forecast depends on who you talk to. There are conflicting signs but most experts predict a slow growth in sales nationwide. Real estate guru Barbara Corcoran has this to say about buying a home in 2011:

“Of course people are nervous about buying with so many mixed signals, but my advice would be: Do not wait. If there's one thing I learned about this real estate is that it's very slow to unwind and usually takes years to do it. But once it decides to turn around, those prices move up very quickly, and you'll just be joining every Tom, Dick and Harry bidding on the same house. If you have an inclination to move, you'll get no better time than now, with cheap money, cheap prices and an embarrassment of riches to choose from. Why wouldn't you buy now if you were so inclined?”

The only way to know when you are at the bottom of the market is when you bounce off of it. We bounced in December!

Let’s compare December 2010 to 2009 real estate statistics to see what improvement has taken place in our local market.

Midtown Montgomery real estate sales statistics for December show the average sales price increased by 2% to $142,814 when compared to December 2009.  The number of homes sold decreased by 3% in December.  The median sales prices increased 5% and market times decreased 1% or 1 day.

Midtown
Montgomery
 December 
2010		 December
2009
Homes Sold
 29 30
Average Selling Price $142,814 $140,690
Median Selling Price $125,000 $118,750
Days On The Market 122 123
Units On the Market 2,969 2,969

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.