National Home Prices UP! Deborah Laemmerhirt 203-994-4297
The national median home price showed its strongest annual growth in nearly eight years during the third quarter of this year, according to data collected by the National Association of Realtors. CT – keep in mind these are national home prices and real estate is a local market. We are recovering just not at some of these rates!
A whopping 144 of the 163 metropolitan statistical areas (MSAs) tracked by NAR showed gains between the third quarter of this year and the third quarter of last year. In 54 of those MSAs, the increases were in the double digits.
The national median existing single-family home price was $207,300 in the third quarter, up 12.5 percent from $184,300 in the third quarter of last year.
That’s the strongest year-over-year increase since the fourth quarter of 2005 when the median home price jumped 13.6 percent.
Condominium and cooperative prices rose 15.1 percent to a median $205,400 in the third quarter.
One reason home prices are rising is that foreclosures and short sales are falling. Short sales are homes sold for less than what the owners owed on their mortgage.
Foreclosures and short-sale homes typically sell at a discount. That can lower the value of nearby homes because appraisers look at all recent sales when they determine a home’s current value.
In the third quarter, only 14 percent of home sales were foreclosures or short sales. That’s down from 24 percent a year ago.
Across the country, about 2.21 million homeowners had their properties for sale, modestly higher than the third quarter of 2012, when 2.17 million homes were on the market.
That’s a 5-month supply of homes for sale, down from a 5.9-month supply in the third quarter of 2012. The National Home Prices are UP and so are most of our Connecticut areas.
National Home Prices UP
About Deborah Laemmerhirt
Let me assist you in finding everything you need to know about buying or selling a home! As the preeminent real estate professional in my community, I am dedicated to providing the finest service available while breaking new ground.
Because the real estate industry is becoming more sophisticated and challenging every day, you need a professional that understands the industry and is positioned to stay ahead of the game.
I go the extra mile to help you achieve your goals. That’s why I constantly research the home, market and estate values so your home is priced effectively from day one. I also make sure the public knows your home is for sale by using innovative marketing techniques to attract potential buyers.
As an Internet-savvy real estate representative in Connecticut, I’ve had the opportunity to help many home buyers find their ideal homes and many sellers obtain top dollar for their homes. Buying or selling a home is one of the largest financial transactions that most people ever undertake, so I will help you through every step of the process. My goal is to make your home selling or buying experience as easy and enjoyable as possible.
My services include:
Explaining the home selling and buying process thoroughly
Diligently selecting homes that meets your criteria
Pricing your home correctly and implementing a unique yet proven marketing plan
Negotiating on your behalf
Tracking the closing process to ensure a smooth transaction
I welcome the opportunity to address any questions you might have about buying, selling or current market conditions. Please call or e-mail me any time, and I will be happy to discuss your next steps in the buying or selling process.
I specialize in both Residential and Commercial Properties.
I also head a Real Estate Group to provide you with expert service and support.
Areas of Expertise
Making transitions in your life is challenging. You may be moving from out of town, a different state, internationally or just next door! Regardless of the distance I am prepared to respond to your unique needs.If you are a BUYER looking to downsize, up-size, want a new construction, desire a condominium, to invest, even if this is your first home, I will design a unique plan to fulfill your needs in a reasonable time frame, with the best negotiated price and the least amount of inconvenience.For my Home Sellers, I have an innovative marketing plan that will leave nothing to chance. Just call, and I would be happy to share the DIFFERENT and SUCCESSFUL TOOLS I utilize on each of my listings.
I have lived in Connecticut for over 35 years. I practice Real Estate in Fairfield County, New Haven County and Litchfield County. This includes, but is not limited to Bethel, Bridgewater, Brookfield, Danbury, Harwinton, Kent, Litchfield, New Fairfield, New Milford, Newtown, Oxford, Ridgefield, Redding, Roxbury, Sherman, Southbury, Warren, Washington, Westport and Wilton.
