Wednesday, 8th of February 2012 at 06:09:25 PMI’ve been on a bit of a run with statistics as of late, and ARMLS has continued to expand their offering and I couldn’t be happier with the direction or success of that work. Today I’m going to set my eyes on the ARMLS Pending Price Index™, more specifically the Price per Square Foot supplement. For the past several weeks, I’ve noticed the trend of above list price closings on the investment properties that I find for my clients. Typically below $150,000. Often I find it’s a bit of a bidding war, so I’ve been stating that properties in this price point is very much a seller’s market. After reviewing this cart:
I’ve changed my position to say anything $350,000 and below is probably a seller’s market, even though my recent experience with $300,000 and above is mostly difficult sellers than multiple offer. Price per sq foot is starting to creep upward. While I don’t agree with the over all report that shows prices will go down, mostly because I’m seeing an upward trend and my experience in the field are saying other wards. It lends itself to be a good statistical report.
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