Values continue to rise in Old Town as we head into spring!
How does February 2015 compare to February 2014? In 2014, six properties sold with an average sale price of $354,000, a median sale price of $280,000, and an average of 67 days on the market. This year in February, there were 11 home sales with an average sale price of $403,000, a median sale price of $372,000, and an average of 81 days on the market. Median prices are up $92,000 compared to the same time last year, and homes are taking 14 days longer to sell.
There are only 18 homes currently for sale in Old Town, and they range from $259,000 to $1,000,000! So once again the market lacks inventory, and this continues to drive prices higher and higher.
This year, February only saw three condo/townhome sales, which had a median sales price of $315,000 and an average of 80 days on the market. There were no sales in 2014. Again, there is a short supply of housing with many buyers hoping to live in vibrant Old Town! If you are considering selling, now is a great time to list your home!