Posted by: thepinetree on 01/21/2013 11:10 AM
Updated by: thepinetree on 01/21/2013 11:20 AM
Expires: 01/01/2018 12:00 AM
The 2012 Arnold area Real Estate results are in…The supply of homes for sale is shrinking rapidly! ~ By Barry Ward
Arnold, CA...We have compiled the data from the Calaveras MLS to provide you with our annual summary. The statistics are for areas 2-7 (Dorrington to Hathaway Pines). The total number of homes sold in 2012 increased 34% over the same period in 2011 from 214 to 290. Both, days on market and the list to sales price ratio held steady, however, the average selling price did decline 15% in 2012 to $193,156 from $227,176 in 2011. In addition, the supply of homes for sale decreased 62% from an 11.4 months’ supply in 2011 to a 4.3 months’ supply in 2012; this should be good news for sellers as we move forward into 2013....
The recovery in the national housing market continues to pick-up steam, as home prices posted the biggest percentage gain in more than two years in the latest reading of the closely followed S&P/Case-Shiller index. The index showed prices up 4.3% in October compared to a year earlier. That is the best improvement since May 2010. However that earlier increase was due to a temporary spike caused by a homebuyers’ tax credit of up to $8,000 on homes purchased in late 2009 and early 2010.
Another positive signal for real estate this year is that the current residential shadow inventory (homes in some stage of foreclosure) continued to fall from peak levels, Core Logic said in its 2012 third quarter report. Shadow inventory is expected to continue to shrink in 2013 due to strong investor demand for bank owned properties, which has helped absorb the current foreclosure properties for sale.
Barry Ward Realty opened in 1986, and is built on Barry's 30-plus years of experience in Calaveras County real estate. From the beginning, this unique local company has been about staying small and independent to better serve its customers. It combines all the technological advances and marketing savvy of larger franchises with a personal touch that only a small team of quality professionals can provide. At Barry Ward Realty, the emphasis on teamwork is heightened. Than means when you work with this unique team of dedicated agents and support staff, you will always find someone available to answer your questions and provide the information you need to make the most of your home purchase or sale....