December finished strong with a 24% increase in pending sales compared to December 2010. For the year, closed transactions had a 10.62% increase with an average sales price for residential and condominium properties of $252,144. For the second month in a row pending sales were greater than new listings coming on the market. For a long time a "sellers" market has not been the case but would definitely be appropriate for some neighborhoods and price ranges under $300,000. Short sales and foreclosures are impacting pricing with December prices 9.6% less than the previous year. Employement is positive with Boeing selling many planes and negotiating a long range contract with the union. It appears interest rates will remain very affordable and not expected to increase dramatically for the first part of 2012. There wil be political pressure also with elections not far away to continue with economic stimulus and job creation.
