In Nottingham, we see that the Average Sold Price was down from both December 2011 and last year (Jan. 2011). The number of homes sold last month was similar to last year, however, the number of homes settled decreased by 7 from the month before. While the Days on Market remains consistent for the last couple of months, it is still slightly higher than last year, meaning homes are selling a little slower than last year.

When we examine the Average Attached Sold Price, we see that it is just slightly higher than last month, however, is down almost $30,000 from last year. The news isn't any better for the Detached homes - both the Average Sold Prices from Dec. and Jan. 2011 were higher than last month's price, by $40,000 and almost $62,000 respectively. Hopefully we will see an increase as the Spring Market starts to pick up!

Even though these local real estate numbers by zip code give us a lot of information about how our local market is doing, much depends on the inventory sold that month. For example, a single family home's value can vary immensely by square footage, number of bedrooms and bathrooms, updates to the home, etc. Because of such variation, we expect the numbers each month to fluctuate a bit based on the inventory sold in that month.

If you would like to get more information specific to your type of home and your subdivision or immediate neighborhood, feel free to contact me by email at Rebecca@RebeccaJenkinsRealtor.com for this information.

For information on real estate in Perry Hall and Kinsgville, check the post: January Real Estate Report for Perry Hall, Kingsville.