How was the real estate market at the end of the first quarter of 2016?
The Ford’s Colony market saw an increase in properties going under contract when comparing March 2015 to March 2016. In 2015, 15 listings went under contract while 19 went under contract this past March, 2016. Active inventory was fairly constant ; March 2015 ended with 140 active listings and March 2016 with 139 active listings. The best news was an increase in median sold values. Closed median sold values jumped to $521,500 in March 2016 from $450,000 in March 2015.
Overall, a better start to our Ford’s Colony market than we have seen in many years. Homes priced below $500k in FC in theory are in a “balanced” market — neither a buyer’s or seller’s market. It appears we should see that “balance” push up in price point as we continue into 2016.
Thinking of selling your home? Give Deelyn at call at 757.503.1999 or email at email@example.com to determine your home’s current market value.