I always say it makes sense to watch real estate trends over a long period of time. And since I’ve tracked the “Average Sales Price” in the OV/Old Mt. P over the past 14 years, I will share these stats in hopes you find it informative.
Sales prices were solid in 2014, with an average of $455,000. 2014 was comparable to 2010 prices and looks especially good when compared to 14 years ago, when prices averaged $370,000. That said, we have seen a dip compared to the highs of 2006 –2008, when priced hovered in the $580,000 range.
Over all, inventory is low (especially in the lower price points) and there is a pool of buyers ready to pounce on the right find. Interest rates are still low, flood insurance issues have been resolved and school zones have been locked down. All signs indicate a healthy real estate market for 2015. To see all homes for sale in the OV/ Old Mt. P, visit SearchOldVillage.com.
If you have interest in buying or selling or if you would like an evaluation of market comps, let me know.