My hunch was correct, in that 2015 was not only a recent year record setter in terms of the number of units sold, but the average sales price was higher. Although the print is fine, the results are true – 2015 had the highest average sales price since 2008:
There are multiple reasons why 2015’s average sales price was higher than recent year’s averages. First, the number of foreclosures is down and that means higher prices because foreclosures almost always sell for less than a similar non-foreclosure property. Also, demand is up and there are just fewer $100,000 price range homes available. As I have posted before, buyers don’t get much for less than $100,000 any more. In some cases, we can still find a bargain but it isn’t as easy as it used to be. Watch this space for some special homes we expect to have for sale soon!