Home sales are a fluctuating thing and the details cannot always be calculated simply by the number of sales in a given time. People are often concerned with their bottom line, and a decrease in home sales often means a decrease in the bottom line right?
not necessarily:
Number of Home Sales
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Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
2007 |
2932 |
3270 |
4552 |
5105 |
6475 |
7143 |
6132 |
6488 |
4677 |
4422 |
3894 |
3215 |
2008 |
2341 |
2889 |
3245 |
3764 |
4695 |
4993 |
4600 |
4553 |
3810 |
3650 |
2483 |
2583 |
2009 |
1578 |
2082 |
2871 |
3362 |
4128 |
4959 |
4943 |
4596 |
4192 |
4548 |
4145 |
2707 |
2010 |
1799 |
2315 |
3815 |
5289 |
5592 |
5932 |
3555 |
3897 |
3823 |
3723 |
3210 |
3373 |
2011 |
2552 |
2645 |
3791 |
4421 |
4910 |
5632 |
5258 |
5299 |
4821 |
4420 |
3941 |
3941 |
2012 |
2881 |
3193 |
5014 |
5322 |
6167 |
7131 |
6118 |
6600 |
5362 |
5562 |
4986 |
4474 |
2013 |
3493 |
3664 |
5297 |
5917 |
7418 |
7602 |
7322 |
7819 |
6095 |
5751 |
4939 |
4641 |
2014 |
3335 |
3371 |
4753 |
5384 |
7266 |
7756 |
7436 |
7594 |
6190 |
6484 |
4789 |
4825 |
2015 |
3451 |
3607 |
5564 |
6563 |
8104 |
9419 |
8951 |
7904 |
7166 |
7018 |
4886 |
5525 |
2016 |
3904 |
3754 |
5624 |
7495 |
8229 |
10007 |
8699 |
8578 |
7808 |
7058 |
6031 |
5888 |
2017 |
3996 |
3723 |
6124 |
6915 |
8606 |
10479 |
8511 |
8808 |
7815 |
7456 |
6427 |
5722 |
2018 |
4146 |
3961 |
5915 |
6942 |
8289 |
9482 |
8491 |
9359 |
7082 |
7399 |
6563 |
4988 |
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Over the last several years we’ve seen a remarkably steady increase in home sales, but not only that the median price has increased. This suggests an inflation in our market. |
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Median Price
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Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
2007 |
$162950 |
$162650 |
$168750 |
$165000 |
$169000 |
$175000 |
$175000 |
$170000 |
$165000 |
$162000 |
$163122 |
$161000 |
2008 |
$156000 |
$151900 |
$159900 |
$162950 |
$162000 |
$172500 |
$169900 |
$165000 |
$155000 |
$155000 |
$145000 |
$143143 |
2009 |
$135000 |
$136000 |
$143900 |
$139900 |
$151000 |
$158000 |
$158000 |
$154900 |
$147000 |
$146000 |
$143900 |
$139900 |
2010 |
$136500 |
$136125 |
$140000 |
$140000 |
$145000 |
$153000 |
$148000 |
$149900 |
$138000 |
$140000 |
$136000 |
$133000 |
2011 |
$127900 |
$116000 |
$122500 |
$125000 |
$136000 |
$140000 |
$140000 |
$140000 |
$134000 |
$129900 |
$133000 |
$120000 |
2012 |
$120000 |
$112600 |
$123000 |
$128000 |
$138000 |
$142000 |
$142500 |
$142000 |
$135000 |
$135000 |
$130000 |
$131500 |
2013 |
$123900 |
$120000 |
$133000 |
$138000 |
$144000 |
$158000 |
$155000 |
$151000 |
$144500 |
$141000 |
$137000 |
$139000 |
2014 |
$126000 |
$129900 |
$136000 |
$140000 |
$149900 |
$159500 |
$158000 |
$155900 |
$148950 |
$147000 |
$145000 |
$144500 |
2015 |
$134000 |
$137000 |
$147500 |
$153200 |
$159500 |
$168000 |
$162000 |
$160000 |
$154650 |
$155000 |
$150000 |
$148800 |
2016 |
$147950 |
$145000 |
$155000 |
$160000 |
$165000 |
$174115 |
$169400 |
$170000 |
$165000 |
$164000 |
$160000 |
$159900 |
2017 |
$156500 |
$152900 |
$162500 |
$168900 |
$172000 |
$185000 |
$179300 |
$180000 |
$173000 |
$173650 |
$169900 |
$170000 |
2018 |
$169400 |
$165000 |
$174900 |
$180000 |
$186000 |
$195000 |
$192000 |
$188900 |
$185000 |
$182500 |
$183000 |
$179000 |
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The figures above show a steady increase in median price, couple that with the steady (somewhat increasing) home sales and you have a growing market. I’m sure buyers and sellers alike have noticed the difference in home values over the last several years. |
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What Does This Mean For Sellers and Buyers?
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I’m sure you’ve heard it before: “It’s better to buy now than wait, waiting will be more expensive”. This is true, real estate is usually trending upwards, it has times where it falls or grows slowly. But if you take the median sales price over the last 30+ years and index it in a graph, you have this: |
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The point of all this information is to show that it truly is better to buy now and sell later, because real estate is an appreciating asset. It will have it’s ups and downs, it’s important to know it’s a ongoing investment that will provide a return given the time it needs.
Hopefully this has assisted you in making an educated decision whether or not to buy a home.
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Justin Scott
Loan Officer
NMLS 878581
- C) 920-530-4484
- O) 920-490-8823
- F) 920-490-8967
Executive Mortgage
NMLS 271650
909 . E Walnut Street
Green Bay WI 54301