Inventory Still Plummeting In Sterling

Sterling Single Family Homes

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For single family homes, median price started to climb the beginning of December, and is just about recovered to where it was in August.  (Although the winter decline was only about $10,000.) Inventory continues to drop while days on market appears to climb~~I still maintain that the short sales are clouding the days on market statistics by remaining active, in many cases, while lenders consider situations and market value.

Sterling Condos and Townhomes

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Townhomes and condos have been fairly price stable in Sterling, as the median price has swung only $10,000 since Aug. 09. Meanwhile, inventory and days on market is mirroring the single family homes segment; there is little to choose from at the moment while days on market increases slightly.  Inventory right now is actually less than half of what it was at it’s peak in 2008.

I’m already seeing signs of the beginning of the spring market…lots of buyer activity, multiple offers on listings, increased website traffic to home search pages.  If you are thinking about buying or selling this spring, now is a great time to reach out for more information and guidance so you can make educated decisions going forward. I’m here to help, so please reach out.

Cheers,

Heather

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Michael and Heather Elias are full time real estate professionals and licensed REALTORS at Century 21 Redwood Realty. They sincerely hope you enjoy reading this blog, and would love the opportunity to work with you.



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