The Fed recently announced they would continue their current pace of purchasing bonds until the economy was stronger. This bond purchasing program is the reason that mortgage interest rates are at historic lows. Rates began to increase over the last several months just on the anticipation that the Fed would announce that they would be reducing the level of bond purchases last month. When that didn’t happen, rates actually decreased.
That was great news for any buyer in the process of purchasing a home. However, this window of opportunity is expected to close in the very near future as most experts expect the Fed to taper the bond purchasers in December.
So, don't let this opportunity pass you by. Leverage your buying power NOW while rates remain low. Contact us today for help!
Take a look at sales figures in our local real estate market for September 2013.
Midtown Montgomery real estate sales statistics for September 2013 show the number of homes sold increased by 28% when compared to September 2012. The average sales price increased by 29% to $ 184,238 for the month. The median sales prices increased by 21%, and market times increased by 52 days from September 2012. The highest selling home price increased by 33%, and the lowest selling home price decreased by 22% from September 2012.
While it’s tempting to rejoice over these huge increases, it’s important to remember that they compare just one month’s activity in each year. And because Midtown homes are so different in size, degree of renovation, etc., sales values from year to year reflect more than just “more business” but “different business” as well. A more important and meaningful statistic is this: at the end of the September, 2013, selling prices market-wide are up 3.46%. Yes!!!!!!
| Midtown Montgomery | September 2013 | September 2012 |
| Homes Sold | 29 | 21 |
| Average Selling Price | $ 184,238 | $ 131,321 |
| Median Selling Price | $ 155,000 | $ 122,500 |
| Days On The Market | 166 | 114 |
| Highest Selling Price | $ 545,000 | $ 367,500 |
| Lowest Selling Price | $ 20,000 | $ 25,500 |
Search all Montgomery AL Real Estate And Homes For Sale.
Sandra Nickel and the Hat Team have distinguished themselves as leaders in the Montgomery AL real estate market. Sandra assists buyers looking for Montgomery real estate for sale and aggressively markets Montgomery AL homes for sale. Sandra is also an expert in helping families avoid foreclosure through short sales and is committed to helping families in financial hardship find options. For more information you can visit AvoidForeclosureMontgomery.com.
Interested in buying a bank-owned home? Get bank-owned listings alerts FREE!
You can reach Sandra by filling out the online contact form below or give her a call anytime.
Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.
Home prices have gone up considerably in almost every market in the country in the past year and while inventories are beginning to grow, prices are expected to continue to rise. Mortgage rates jumped 1% from the beginning of May to now. They could easily reach 5% by the end of the year and continue to rise in 2014.
