The first quarter of 2013 showed marked improvement year-over-year.  Sales were up 14% and average pricing was up 10%!

1QYear #Sales $/sf DOM
2010
496
$382
77
2011
553
$372
87
2012
577
$362
91
2013
660
$397
57

This feels like a comfortable level for now.  Will prices keep going higher? When we look back on this next year, will there be another 10% pop in Y-O-Y pricing?

Buyers have been willing to tolerate this past increase, but for prices to rise another 10% in the coming months would take a mega-frenzy.  But if inventory stays scarce, it could happen statistically just on the thin trading.

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Jim the Realtor
Jim is a long-time local realtor who comments daily here on his blog, bubbleinfo.com which began in September, 2005. Stick around!

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