The third and fourth quarters of the year are typically strong in real estate sales.
During this time of year, many sellers contemplate taking their home off the market for the approaching holidays and relisting them after the New Year.
Statistics show this is not wise as the fourth quarter has good sales.
The buyers we see during the holidays are fewer, however, they are more often than not, serious buyers.
Let’s get on to the third quarter real estate statistics for the Rim Country.
The statistics were derived from information reported to the Central Arizona Board of Realtors and do not include unreported or “for sale by owner.”
For the third quarter, Payson and Star Valley reported the sale of 116 homes compared to 110 homes in the second quarter.
The average selling price was $191,500, which is a 1 percent increase from last quarter.
Average days on the market fell from 193 to 162. This is a dramatic drop and bodes well for our housing recovery. Homes sold at an average of 4.5 percent below list price.
The area currently has 279 homes on the market, which is down from 295 at the end of the second quarter.
Pine-Strawberry had 39 homes sell in the third quarter, which is up 5 percent from the second quarter of 2012. The average sales price was $191,400.
Homes sold at an average of 5.5 percent below list price. Average days on the market were 161, which is down from 222 in the second quarter.
P-S currently has 90 homes on the market.
Looking at past years, the Rim Country inventory of homes for sale is down significantly from historical levels. The market may be signaling that it is a good time to consider selling.
Ray Pugel is a designated broker for Coldwell Banker Bishop Realty. Contact him at (928) 474-2216.