According to
the latest FNC Residential Price Index, February 2013 recorded a 28-month high in
home prices nationwide, amounting to a 6.1% increase.
In Phoenix, AZ,
price increases are nearly 30%, and even Detroit has shown a 12% increase.
How does Columbia
compare? Check these tables - they represent listing and sale figures for the 1st 3 months of 2012 and 2013.
|
For Area 4 (NE Columbia)
|
Listed
|
Sold
|
Average Sale Price
|
DOM
|
|
1/1/2012 – 3/31/2012
|
776
|
331
|
171,294
|
123
|
|
1/1/2013 – 3/31/2013
|
854
|
390
|
181,236
|
107
|
|
For Area 8 (SE Columbia)
|
Listed
|
Sold
|
Average Sale Price
|
DOM
|
|
1/1/2012 – 3/31/2012
|
179
|
63
|
120,343
|
138
|
|
1/1/2013 – 3/31/2013
|
194
|
85
|
129,610
|
144
|
In Area 4 (NE
Columbia, one of the fastest growing areas in the city), 10% more homes came
onto the market and 18% more homes sold!
In Area 8 (SE
Columbia), 8% more homes came on the market and 35% more homes sold!
It’s a win-win
for everyone. Sellers are optimistic about selling their homes, and buyers have
a larger inventory of homes to choose from. And at today’s interest rates of
3.625%, it’s a swee-eet deal!
A word of
caution: Home prices in both areas have gone up by about $10,000. And that may
be just the beginning.
