We wanted to take this opportunity to thank all our past clients and customers for their business this year and to wish each of you a very happy and fulfilling Thanksgiving! For those traveling, we wish you plenty of patience and safety:-)
Below are year over year MLS statistics for the Greater Greenville SC Real Estate Sales. We are comparing 2012 sales to 2013 sales. Overall, there was good improvement in all categories with Volume of sales being up nearly 26% in 2013, Average Prices being up 3.5%, and the time on the market falling by 11.4%.MLS Stats as of Nov 10th 2013 Units Volume Ave. Price Med. Price DOM
Solds January 1 - October 31, 2013 7788 $1,447,981,031 $185,925 $157,000 93
Solds January 1 - October 31, 2012 6192 $1,112,366,626 $179,646 $150,000 105
Percentage Change (+25.8%) (+30.2) (+3.5%) (+4.7%) (-11.4%)
Interest Rate Trends: The trend in interest rates this year since April/May has seen interest rates creeping higher. They bottomed out around 3.25% and from there rose to around 4.5%, and have fallen since then to around 4.25% to 4.5%. The bond markets have a keen ear to any news that the Fed may start tappering their bond buying program. Should the Fed start doing this, we can expect interest rates to rise. Additionally, global growth and inflation come into play with long term interest rates.
We feel fairly confident that the positive trends in the local real estate market will continue into next year. Let's hope so! Take care and all my best, Jonathan.
Weekly national mortgage survey
|Results of Bankrate.com's Nov. 27, 2013, weekly national survey of large lenders and the effect on monthly payments for a $165,000 loan:|
|30-year fixed||15-year fixed||5-year ARM|
|This week's rate:||4.44%||3.47%||3.29%|
|Change from last week:||+0.05||+0.05||+0.01|
|Change from last week:||+$4.88||+$4.05||+$0.91|