The key trends that have defined the residential real estate market in 2013 are still very much in place at the end of August, according to ZipRealty’s latest analysis of market conditions in 24 major metropolitan areas. Inventory is tighter, houses are selling faster, pending sales volume is stronger, and median sales prices are up strongly when compared to one year ago. “Over the past 45 days, we have observed moderating prices in the fastest-growing locales, while sales prices are accelerating now in markets that had been lagging earlier.
During the mid to latter part of the 20th century, a substantial portion of homebuyers were focusing their search in the growing number of suburbs. Crime rates, congestion, and urban decay were largely responsible for the massive exodus from urban areas to suburban alternatives. The overall consensus was the farther a homebuyer could get from an urban center the better.
ZipRealty has released a list of the top 10 “booming” real estate markets with the best public schools. These metro areas are leaders in median home price growth, transaction activity and other key metrics as of mid-August 2013. The public schools were selected because of their high School Score − a proprietary measure of the performance of each school district on a scale of 1 to 10, with 10 being the highest – found exclusively on ZipRealty.com.
When homebuyers are looking at real estate listings, they usually make note of each home’s location, number of bedrooms, age, special features, encompassing school districts, yard space and price. However, there is another important feature that prospective buyers often gloss over simply because they aren’t sure what it means – the style of the home.
Before home sellers put their houses on the market, they often go through a thorough process of cleaning, staging rooms and taking care of any important maintenance issues. However, you may not have considered the potential benefits of making sure your house is LEED certified before selling your home. LEED (Leadership in Energy & Environmental Design) is a rating system that certifies that homes use less energy and resources than homes on average.
As the summer home selling season winds down and families head back to school, the ZipRealty Housing Trends Report shows the housing market in a healthy state. Median home sales prices were up 16.2% year-to-year to an average of $278,000 in the markets we studied, and new pending sales increased by 19% in the month ended August 15, 2013 compared to one year earlier, according to ZipRealty CEO and President Lanny Baker.
When selecting a real estate agent there are many factors to consider, not least of which is what kind of personality fits best you with and your unique real estate needs. Are you a real estate junkie who just wants a hard-nosed negotiator to close the deal? Maybe this is your first purchase, and you’d like an agent who will help you learn along the way. Every real estate agent has a different way of getting the job done, and it’s important to find someone whose approach works with your needs.
Maybe you’d like to make your home more energy efficient but aren’t ready for a major renovation? We’ve rounded-up three eco-friendly home improvement projects just for you! They’re all inexpensive and easy enough to tackle on your own this weekend.
Everyone’s saying it’s a great time to take steps toward buying a home. But what if you don’t have the money to make a down payment on the type of home you want? Rather than being discouraged and giving up on your dreams of homeownership, keep in mind that there may be options for potential homebuyers who can’t afford to put down a large amount of money upfront when they’re making a home purchase.
The trajectory of the real estate market as evidenced in the latest edition of ZipRealty’s Housing Trends Report is one of moderation with underlying strength. “Home listings, median days on market and pending sales all remained relatively unchanged over the past six weeks. "Additionally, the increase in median home prices moderated from 16.8% year-over-year in our last report to a still strong 15.8% currently,” says Van Davis, ZipRealty’s President of Brokerage Operations.