Let’s take a look at the Lockport real estate market conditions during September 2013.
There were 183 Lockport homes for sale in September, down 33.7% from September 2012, with 276 homes for sale! There were 50 homes closed in Lockport during September 2013, up 31.6% with only 38 closings last September. Fewer Lockport homes for sale and more closings means greater competition for existing listings. This should drive up list prices and demand for sellers.
The average market time for Lockport during September 2013 was 110 days compared to 253 days last year in September, which is 56.8% lower! The average list price in Lockport during September 2013 was $196,410 which is about the same compared to last September’s average list price of $196,697. The average sales price during September 2013 was $182,036 down 3.7% compared to last year’s average sales price of $189,040. The percentage of original list price received increased by 5.6% from last September to this September - 89.5% of the original list price last year compared to 94.5% this year. Homes in Lockport are selling in nearly half the time of last year while prices aren’t changing drastically. Sellers are, however, receiving a higher percentage of their original list prices.The number of new listings during September 2013 was 59% lower than last year – 62 new listings this September and only 39 new listings last September. The number of listings under contract increased 36.7% this September compared to last – 41 listings under contract this September compared to only 30 listings under contract last September! If you are thinking of selling in Lockport, this might be the right time for you!
- Ashley York, Century 21 Pride
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