Our current market is showing some VERY solid increases and just over the last couple of weeks, we have noticed the average daily pending sales go from about 70 per day to more than 100.
The season is in full swing and with the economy looking up slightly, some of the pent-up demand is bursting at the seams. People are finally tossing the towel in and determined that life is too short to continue to wait and maybe save a few more percent. Values are still ranging from 25% to more than 50% off of market peak depending on what product, price range, and area you are talking about.
Pending sales are up in January 2011 by 36% over January 2010 and our market is still continuing to show the most drastic improvement in the higher price categories. Pending sales of the $1,000,000-$2,000,000 price range is up a whopping 63% versus January a year ago.
Rex Miller, P.A.