Real estate sales good

Published 1:30 am Saturday, January 25, 2014

It’s a good time to sell and it’s a good time to buy – that’s the advice of area Realtors after examining industry figures from 2013.

Donna Raines, Covington County Board of Realtors president, said 10 percent is the magic number for 2013.

“When we look at numbers for the overall year, sale were up 10 percent from 2012 to 2013; the average sale price went up 10 percent and the average days on the market went down 10 percent,” Raines said. “And that’s great news.”

For 2013, the average sale price was $110,738, while the average number of days a home stayed on the market before being sold was 203.

“That’s down from 228 days in 2012,” Raines said. “The biggest change we saw was in homes between $100,000 and $200,000. We sold more in that price range; whereas before, it was in the zero to $100,000 price range.”

For property owners, that means good news, Raines said.

“Property values are up 10 percent from 2012, and we’re expecting 2014 to be another year that property values appreciate,” she said. “All areas of the county are experiencing sales. Now is a good time to buy and it’s a good time to sell.”

Raines said that additionally the number of foreclosures has decreased. An Internet search revealed 10 foreclosures in the county.

“And that’s far less than what we’ve had in the past,” she said. “That’s a sign of a better economy, and I think that’s what the 10 percent across the board means – a sign of a better economy.”