New listings of short sales and REOs are lagging well behind previous years, but non-distressed listings are higher than last January:
NSDCC New Listings, January 1-28th:
| Year | Short Sales | REOs | Non-SSREO | Totals |
| 2010 | ||||
| 2011 | ||||
| 2012 | ||||
| 2013 |
Below you’ll see that this year’s sales are the highest since January, 2006.
Last month’s average was $403/sf – we’ve had an 8% increase M-O-M, and a 16% increase in average pricing, year-over-year:
NSDCC Sales/Pricing January 1-30th:
| Year | #Sales | Avg. $/sf |
| 2004 | ||
| 2005 | ||
| 2006 | ||
| 2007 | ||
| 2008 | ||
| 2009 | ||
| 2010 | ||
| 2011 | ||
| 2012 | ||
| 2013 |
Numerous bidding wars are causing buyers to pay well over list price, resulting in rapid appreciation (this month’s average SP:LP is 101%). With the large influxes of cash, it should be sustainable – until it isn’t!
I don’t remember getting an 8% raise this year.