STEVE’S STATS – MAY 2011
Posted on May 4, 2011 by JA/LEX Real Estate in jalex shippensburg Shippensburg homes for sale Shippensburg real estateSTEVE’S STAT’S - MAY 2011
Brought to you by: JALEX Real Estate Services
Number of Active Listings in the Shippensburg school district area (per MRIS MLS system): 192
Number of Homes Sold in the period (3 months): 48
Absorption rate = # of homes sold / period (3 months): 16
Month’s supply of homes = Total active listings / Absorption rate: 12
(6 is considered balanced market conditions, 6 is a seller’s market and above 6 is a buyer’s market)
Total homes sold on the past 30 days, Shippensburg school district: 15
Median sales price: $162,587
High sales price: $339,000
Low sales price: $10,900
Average days on the market for all sold homes in the past 30 days: 147
Spring has sprung in the Shippensburg area and Shippensburg real estate is selling. Buyers are looking for homes and sellers are putting their Shippensburg homes on the market. JALEX real estate agents are busier than ever showing houses to home buyers looking for homes to buy in the Shippensburg area. Our marketing team is also focused and busier than usual with all that is required to market Shippensburg real estate for sale to the entire world over the Internet and locally through print advertising and signage.
The Absorption rate has dropped slightly in the Shippensburg area from 16.33 a month ago to 12 as sales have picked up. The median Shippensburg area sales price has increased too up to $162,587. This is a trend which shall continue through the month of May and into the Summer as buyer and sellers finally are able to get together on price and terms.
Overall, the Shippensburg area real estate market is still in a state that favors the buyer. The absorption rate, or the number of month’s it takes to go through the current inventory available in the Shippensburg area at current sales rates, has dropped but new listings have continued to come on the Shippensburg real estate market. As a seller it is more important than ever to make sure the pricing is right! Buyers have re-appeared becasue Spring is here. But the window to sell is tight. Normally things slow down at the end of July as thought return to back to school. So if you are holding out for the best price you might want to think about getting your home on the market at a price that will get it sold now. If not then you may have to wait till next Spring and who knows how much lower prices may drop till then.
At JALEX honesty and integrity are attributes that we believe in providing our clients. We provide buyers and sellers with information and advice that is based on factual data and delivered so that you are as informed as you can be. We know what the Shippensburg real estate market looks like, what houses are selling for and who is looking, it’s our business to know! So if you need real estate advice or help finding and purchasing a home or help selling your Shippensburg home then give us a call.
JALEX provides this monthly market report FREE and this is just one more way we are raising the bar in Shippensburg real estate.
