As we wrap up another wonderful year in good ol’ Sheridan County, we would like to take a moment to reflect on how our market did this year in comparison to last year.
Let’s break it down in a couple ways:
Residential:
2013 showed an an influx of Sold volume at $86,184,609 compared to 2012 which closed at $84,750,179. (Now keep in mind these statistics for 2013 are year-to-date and we do have a few more closings scheduled for the year)
Sales prices have fluctuated to show that our market is in fact recovering from the downturn of the economy with an increasing average sales price.
2012:
Low of $16,900 this shows a 68% average sale to list price.
Avg. $212,406 this shows a 96% average sale to list price.
High $1,000,000
Average days on the market: 109
Average price/Sq. Ft. $108.15
2013:
Low of $13,000 this shows a 70% average sale to list price.
Avg. $220,000 this shows a 97% average sale to list price.
High $750,000
Average days on the market: 103
Average Price/ Sq. Ft. $109.74
Now let’s take a look at the market overall, this includes any ranches, building sites, commercial buildings that have sold, and the stats up above as well:
2012:
Low of $1 this shows a 18% average sale to list price.
Average $192,103 this shows a 95% average sale to list price.
High $1,650,000
Average days on the market: 191
Average Price/Sq. Ft. $110.46
2013:
Low of $10,000 this shows a 47% average sale to list price.Average $217,065 this shows a 96% average sale to list price.
High $1,900,000 this shows a 112% average sale to list price.
Average days on the market: 186
Average Price/Sq. Ft. $112.49
So what does this mean? We are recovering more in the $180,000 to $350,000 versus last year where we saw more sales in the $30,000 to $150,000. We expect and hope that next year will bring more sales in the $350,000 and higher. If you or someone you know is interested in this market data, or would like a personal analysis done for your property, please don’t hesitate to contact one of our Real Estate professionals, and they would be more than happy to help you with all of your real estate needs in the coming year!
With that we would like to close wishing you all a very Merry Christmas and a prosperous 2014!!