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March Housing Supply Outlook

Posted by TalkRealEstate on May 8, 2012
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This spring, expect signs of recovery to start blossoming around town. But be aware that this won’t necessarily be the case for every neighborhood nor every market segment. For the 12-month period spanning April 2011 through March 2012, Pending Sales in the Western Upstate region were down 3.7 percent overall. The price range with the largest gain in sales was the $200,001 to $350,000 range, where they increased 7.8 percent.

The overall Median Sales Price was up 2.7 percent to $125,866. The property type with the largest price gain was the Single-Family segment, where prices increased 3.6 percent to $130,000. The price range that tended to sell the quickest was the $100,000 and Below range at 151 days; the price range that tended to sell the slowest was the $350,001 and Above range at 207 days.

 Market-wide, inventory levels were down 8.8 percent. The property type that lost the least inventory was the Single-Family segment, where it decreased 7.7 percent. That amounts to 17.2 months supply for Single-Family homes and 19.4 months supply for Condos.

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