Skip to main content

Week of February 13th

Happy Monday! I hope you had a nice Superbowl Sunday.  I was rooting for the Eagles, but to no avail.

Comparing last January '22 to this January '23

While forecasters had predicted prices to slide across the country, here in the triad we are still holding strong, with our home prices appreciating. (these numbers are based on our triad MLS)

January '22 the average sale price of a 2bedroom or less home was $145,000

January '23 the average sale price of a 2bedroom or less home was $163,000

*thats a 12% increase


January '22 the average sale price of a 3 bedroom home was $252,000

January '23 the average sale price of a 3 bedroom home was $257,000

*that's a 1.9%, almost 2% increase

If you're considering selling, now is still a great time.

This past weeks stats 

  • 326 new listings
  • 195 price decreases
  • 293 went under contract
  • 6080 showings this past week (people are out and about!)  
  • The most showings were in the $150,000-$200,000 over 1100 showings at the price point alone.

Current Interest Rate: 5.99%

Forward Outlook

With interest rates hovering around the 6% mark and inventory remaining low, I'd say we are looking at having a busy spring.  

As always, I'm here to help.
-Caroline
Labels:

Comments

Post a Comment

Popular posts from this blog

Let's buy an investment property

Hi guys! I thought it would be fun today to run some numbers with you on the funds you'd need to purchase a $110,000 investment property.  Something to remember, unlike a primary residence, an investment loan will require at least a 20% down payment and the interest rates are typically higher as well. With that in mind...let's dive in! Sales Price :  $110,000 Down Payment of 20%: $22,000 Financing : $88,000 Interest Rate : 7% Loan Length : 30 years Monthly Payment : $585-$650 with est. taxes/insurance Rent Needed : $815 * Rent needed depends on your goal for a rental, however, I'm basing this on if it were me personally buying an investment property.  I consider them a long term investment, where I'd want the monthly mortgage to be paid off over time by the tenant.  Thus meaning, the down payment of $22,000 was my initial investment.  I end up owning a $110,000 home, which in 30 years should be paid for free and clear, and it should have appreciated in value ...
Post a Comment
Read more