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Today, we examine the 2015 real estate market and compare it to what we saw in 2014. Overall, we're seeing improvements in many places.
Home prices increased by 3% in 2015, and the median home price right now is $171,000. That's a very healthy level of appreciation. The average sales price in 2015 was $168,000, which is about a $5,000 increase from last year. The days on market increased in 2015 to 92 days from 89 days in 2014.
Overall, we suspect 2016 to be a great year in real estate. Interest rates are increasing, which will push a lot of extra buyers onto the market. You need to capitalize on this dynamic market. Contact me if you've been thinking of buying or selling!
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