Today I saw a MSN Real Estate article with the headline, “Home prices continue rising”. The data was comparing data from September 2011 with September 2012 year to date figures.
The latest Case-Shiller numbers show that home prices are continuing to rise modestly in most major U.S. cities.
The S&P/Case-Shiller Home Price Indices for September showed an increase of 3% for the combined 20 cities it covers compared with September 2011. Of the 20 cities, only two —Chicago and New York — showed a decline in prices year over year.
The 18 other cities showed price increases ranging from 0.1% in Atlanta — the first increase after 26 months of decline — to 20.4% in Phoenix.
I thought I would do some real estate market research for the City of Auburn. This data is for any home that sold with the address listed as Auburn. This would incorporated inside and outside the city limits.
During the year of 2012 up until October 31st there were 769 homes that sold and transferred owners. I will be using all median figures for comparison. The median starting list price for these homes was $228,500. After price reductions for some of the homes the median list price for these homes ended up being $219,500. The median SOLD price for these 769 homes that have sold in Auburn is $215,000.
Now, lets look at 2011. During the same time frame in 2011 there were 602 homes that sold. These home started out with the median sales price of $224,900 and after price reductions ended at $214,900. The median SOLD price for these 602 homes was $210,750.
This real estate market research for the City of Auburn shows an increase of 2.017% in sales price. That is great news! There is also an increase in total sales of 27.741%. Both of these increases shows that the Auburn WA area is continuing to improve.
Currently the Auburn area is a seller’s market with just over 2.75 months of inventory. There are only 237 homes currently on the market.
“Statistics not compiled or published by NWMLS.”
Equal Opportunity Housing
All information deemed reliable, but not guaranteed