This is the Wellington CO January 2013 Real Estate Market Report:
December Property sales were 8, down -46.7% from 15 in December of 2011 and -57.9% lower than the 19 sales last month. December 2012 sales were at their lowest level compared to December of 2011 and 2010. December year-to-date sales of 221 are running 31.5% ahead of last year's year-to-date sales of 168.
The Median Sales Price in December was $179,000, down -1.2% from $181,100 in December of 2011 and down -8.0% from $194,500 last month. The Average Sales Price in December was $178,338, down -9.2% from $196,427 in December of 2011 and down -18.2% from $218,015 last month. The December 2012 Average Sales Price was at the lowest level compared to December of 2011 and 2010.
The Total Inventory of Properties available for sale as of December was 59, down -6.3% from 63 last month and equal to 59 in December of last year. December 2012 Inventory was at the lowest level compared to December of 2011 and 2010. The Average Days On Market for December was 36, down -56.1% from 82 days last month and down -53.2% from 77 days in December of last year. The December 2012 Average Days On Market was at its lowest level compared with December of 2011 and 2010.
While 2012 was a year in which the Wellington CO real estate market showed some overall improvement over the previous two years, things got pretty slow during the final months, with sales off significantly and prices trending downward. Some of this can be attributed to seasonal effects, both in Wellington and in Fort Collins, which heavily influences its surrounding smaller communities. The low levels of inventory are persisting, and will need to improve in the coming year for a more balanced market. But we are optimistic that 2013 will be a year of continued improvement, as the regional economy shows definite signs of a recovery.
Those sellers hoping to capture the interest of the buyers who will be active over the slower months immediately ahead would be well advised to price their homes competitively, prepare them well for viewing, and ensure that they are marketed effectively.
If you would like to take a look at available homes for sale in Wellington CO, check out our Custom Search Page. If you see something interesting, please give us a call - we would be happy to arrange some showings for you to look at any of these fine homes at your convenience.
Mary & Dick Greenberg