How Do You Eat An Elephant?

October 20, 2012

How do you eat an elephant?  One bite at a time.

The comment I keep hearing from people is “How’s the market, I hear it’s getting better”. The answer is, yes it is getting better. Although we are a long way from where we were 6-8 years ago, it’s important to know that we are better off now than we were one year ago.

Here are some key statistics comparing September 2012 with September 2011.

Median sales price is up 6.7%
Average sales price is up 4.8%
Sales price to list price is up 2.9%
Days on market is down 12.1%
Months supply of available homes is down a huge 43.4%

Every single one of these statistics points towards a recovering real estate market.  So, unequivocally, yes the real estate market is stronger now than it was one year ago.   So, just like eating an elephant one bite at a time, if the real estate market will continue to improve a little bit every month, we will be able to eat this giant elephant that has been sitting on our chest!

Today is a great day to buy a home!


Ben Bowen

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