Posted: Jun 18, 2012 6:17 PM by Chloe Alexander
Updated: Jun 18, 2012 9:16 PM
COLUMBIA - The number of sinlge family homes sold in Boone County is rising. There has been a 33.8% increase in the number of homes sold May 2012 compared to the same month last year.
Real Estate Agent Guy Long says first time home buyers are really stepping up this year. They usually purchase homes that range between $100,000 and $140,000. May 2011 the number of homes sold in that price range was 40. This May, Columbia realtors has sold 66 homes.
"Confidence is growing that may have not been there in the past." said Long. "Employment is stable and low interest rates have generated a high demand."
Houses do not stay on the market for as many days as a year ago. Previous home owners are starting to buy more expensive homes and their old homes are being sold to first tiime buyers.
"We never really know," said Long. "We just speculate."
Year-to-date, 892 sales closed compared to last year at 684.
The average price of a home on the market in May 2012 was $214,000. A year ago it was $200,000. That's the average price. The average price of actual sale was $31,000 below the asking price.
Most buyers usually search for homes that are near the University.
"Feels like the old days," says Long. "We are having a good time in real estate right now."
The number of homes purchased in Jefferson City has increased as well.