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Asking Prices Post Big Jumps in These 8 Cities — MRIS Region is #8

July 26, 2012  |  by John Heithaus

 

From the DAILY REAL ESTATE NEWS | FRIDAY, JULY 20, 2012

Median list prices nationwide have risen 2.68 percent in the last year to $195,000, according to June housing data from Realtor.com of 146 metro markets. But in some markets across the country, asking prices have soared even more, in some cases jumping even more than 30 percent in the past year.

8. Washington, D.C.-Md.-Va.-W. Va.

Year-over-year increase: 14 percent

Median list price: $284,990

Read the full post HERE.

 

This is a function of several factors — all of which we’ve Blogged about — lower inventory pushes prices up and demand increases, historically low rates and comparatively higher employment rates and consumer confidence in the region.

Information like this is risky to be interpreted by consumers as each neighborhood has its own characteristics and driving micro-economic factors. As a result, it’s important that real estate professionals stay engaged with MRIS tools like RBI to keep on top of all  market trends in their farm areas.

 

 

Posted in Blog, Industry News, Marketing Tips

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One response to “Asking Prices Post Big Jumps in These 8 Cities — MRIS Region is #8”

  1. David says:

    Very good advice. Thanks MRIS CMO!

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