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The Bridge Team

Washington Park Market Review & Report – December 2013

by

HAPPY NEW YEAR  

There are some differences from this time last year.  It is just hard to gauge how much they are a true indicator of things to come.  It is early to predict how exciting the 2014 market will be.

What we know now is that the number of sales was about the same as last year.  The two positive indicators are that there are 5 more homes under contract than a year ago and 7 fewer homes are available for purchase.  The puzzling statistic is that the days a home is on the market (DOM) has increased.  This could be due to a variety of factors. It could be an indication of a slowing market or it could simply be a reflection of the mix of homes that sold.  A couple of the sales that had long marketing times had location issues.  When demand decreases to a more realistic level, it is the homes with location objections that take longer to sell.

I look forward to seeing how the Spring of 2014 unfolds.  I will keep you posted and in the meantime, if you have any plans to buy or sell in 2014, please don’t hesitate to call.

Click here to review A, UC, S listings in Washington Park in December

ANNUAL REPORT ARCHIVES SINCE 1991

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