This is the Wellington CO August 2012 Real Estate Market Report:
July property sales were 24, up 71.4% from 14 in July of 2011 and 9.1% higher than the 22 sales last month. July 2012 sales were at their highest level compared to July of 2011 and 2010. July year-to-date sales of 122 are running 24.5% ahead of last year's year-to-date sales of 98.
The Median Sales Price in July was $180,250, down -15.3% from $212,750 in July of 2011 and down -5.4% from $190,530 last month. The Average Sales Price in July was $185,719, down -21.5% from $236,705 in July of 2011 and down -2.5% from $190,510 last month. The July 2012 Average Sales Price was at the lowest level compared to July of 2011 and 2010.
The Total Inventory of Properties available for sale as of July was 89, up 11.3% from 80 last month and up 14.1% from 78 in July of last year. July 2012 Inventory was at a mid range compared to July of 2011 and 2010. The Average Days On Market for July was 32, down -30.4% from 46 days last month and down -33.3% from 48 days in July of last year. The July 2012 Average Days On Market was at its lowest level compared with July of 2011 and 2010.
Indicators for the Wellington CO real estate market are now starting to suggest improved conditions - May, June and July all showed good sales activity. And while prices have been declining, we think that is indicative of sales activity shifting to lower price ranges, rather than any decline in actual value. We will be monitoring this data closely in coming months, as we move into a generally slower season. In any event, there continue to be great opportunities for ready buyers, with a nice stock of attractively priced homes and continuing low interest rates.
If you would like to take a look at the available inventory, Search Real Estate Listings for Wellington CO. If you find something you'd like to see, please give us a call - we would love to arrange for you to see any of these fine homes at your convenience.
Mary & Dick Greenberg
Data Source: IRES MLS