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Number of Homes Sold in University City is Up!

Number of homes sold in University City is up from the previous year, but the average price is down.

This year continues to be a challenge for selling in University City with the amount of inventory on the market.  The number of homes sold so far this year compared to 2011 is up by 14%.  The average price of homes sold over $150,000 is slightly down by 4%.  Average time on market is has improved to just under 4 months:

Sold Data for University City $150,000+

YEAR-TO-DATE # OF TRANSACTIONS $ PER SQFT AVG. $ DAYS ON MARKET 2012 179 $148 $329,108 115 2011 157 $151 $341,284 121 +14% -2% -4% -5%

Record low interest rates are incentivizing buyers to make a move and with the increase in homes sold, sellers are setting their asking prices to attract and compete for the buyers.  Sellers and buyers are having a meeting of the minds and are not in gridlock as in recent years.  With the increase in the number of homes sold, we will hope to see average prices follow as we move forward.

If you have questions about a particular area or neighborhood, please feel free to contact me for additional information. 

Please follow my weekly Real Estate blog every Wednesday for the latest on Unique, Distinctive and Historic properties!   To see more and to keep up with the latest real estate news and most sought after homes for sale, please visit my website at www.robbpartners.com. 

About this Column: This information was provided by the Mid America Regional Information System.  All information is deemed reliable but not guaranteed. 

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

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