The Real Estate Market rallied in December to help finish the year with a modest 4% decline in the number of homes sold. The rally was spurred by the continued decline of long term mortgage interest rates and a strong local economy. The average and median home sale price remained at levels consistent with 2006 and finished the year at $147,501, and $130,000 respectively. Active inventory, the number of homes for sale, was also down 16% for the year. The statistics are a very positive sign for our local real estate market and we continue to outperform many areas of the Midwest and the country.
2008 is shaping up to be another great year to buy and sell real estate!
-Sean Osborn
Team Tappe President
