Home prices in Marshall County up 12 percent above last year
GUNTERSVILLE, AL (WAFF) - Selling prices for homes are on the rise.
In Marshall County, you will pocket around 10 percent more money selling your house than you would of 12 months ago.
The bottom line is there’s a good economy going on and it’s all about supply and demand.
Existing home prices are on the rise. According to the University of Alabama’s Center For Real Estate median home prices in 2009 were $120,000. It finally reached that level again last year after dipping to just 80-thousand in February 2012. So for the first time in ten years home prices are going up above those 2009 levels.
The median home price is now $134,500.
Guntersville Re/Max realtor Leamon Yarbrough says that's what he sees going on with home prices in the 100-300 price range. Homes above that are actually leveling off.
Yarbrough says builders don't have a large margin in that price point so that puts pressure on existing homes to be sold at a higher price.
“So if you’ve got a home that falls in that category and you’ve thougth about moving, you know, now certainly is a time to put it on the market and talk to your local realtor. My only concern for those folks is make sure you know where you’re going when you put your house on the market because it’s not going to last long,” said Yarbrough.
Yarbrough anticipates that this upward trend will continue.
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