The year 2012 finished with every curve moving up. Exceptionaly strong prices in December meant that the monthly average price beat 2011's in nine out of 12 months. For the year, the average sale price rose by 4.7 percent to $492,800.
Likewise, the number of properties sold each month equalled or beat 2011 in 10 of 12 months. One thousand, four hundered and ninety-four properties sold in 2012, 14.7 percent more than in 2011 and the most to sell since 2007.
Last January, I predicted that 1,500 properties would sell in 2012 and that prices would move up by 5 percent. I missed both of those, sorry. So you probably won't believe me when I say that in 2013, there will be 1,650 to 1,715 sales and that the average price will be above $500,000.
There were 1,470 properties listed for sale in the first week of 2013, fewer than the number sold last year.
$15,000 ... least expensive property sold in 2012 - Quandary Village lot
$5,570,130 ... most expensive property sold in 2012 - Timber Trail home
Chuck Leathers is the broker/owner of Chuck Leathers Real Estate Co. He can be reached at (888) 485-2300 or email him at ChuckLeathers@Realtor.com.