When you see published reports of average house sales prices in the media, it’s good to keep in mind that there is always a seasonal component to the ups and downs of average house prices. HERE is a recent Charlotte Observer article on the monthly S&P/ Case-Shiller Home Price Index report telling of some ups and downs depending on how you choose to look at it. Below, you can see the average prices for the top of the season for the last three years in our Charlotte Region MLS. The peak price is in red and is in June for all three years.
2009- April – $201,352; May – $199,243; June – $218,728; July – $212,977; August – $209,245
2008- April – $221,497; May – $223,946; June – $233,670; July – $230,632; August – $230,472
2007- April – $225,748; May – $232,747; June – $248,048; July – $239,172; August $241,323
It’s also good to remember that whatever is happening to the potential sales price of your house at any time is likely happening to other houses in the same market. So, if you’ve thought about trying to time the market to sell, remember that if you wait until next year hoping to sell for more, you’re also likely to pay more for your next house. In any market, if you’re selling one and buying another, the main thing that matters is what is the difference in your sale price vs. your next purchase price.
I’m just saying….
