Washington Co. home sellers saw 53% avg. gain from their purchase price in March


March was a very good month for Washington County home sellers. Their average price gain hit a 76-month high and was a little better than three times higher than the national average.

Seller gain 1

CLICKING ON CHART RENDERS A LARGER FILE

OK, OK. It wasn’t a normal month. In fact, the average dollar gain for Sullivan County sellers  outperformed Washington County during nine of the past 15 months. Still a one-month 53% improvement from the seller’s original purchase price is something to crow about. See charts at the bottom of this post.

RealtyTrac’s March U.S. Home Sales Report showed U.S. home sellers averaged $30,500 more than they paid for their properties for a 17% average price gain. It was the higher than December 2007 at the onset of the Great Recession.

Sullivan and Washington were the only area counties included in the report since the cutoff was 150 or more condo and single family home sales in March.

Seller gain 2

CLICKING ON CHART RENDERS A LARGER FILE

Washington County March gain came in at $46,950, a 53% increase – the best since November 2009.

Sullivan County sellers had a $25,250 – 29% gain.

Some of the shine on Washington County’s bragging rights comes off when you look at February numbers. Sellers lost $5,250 for a 4% loss that month.

The RealtyTrac report is based on publicly recorded sales deeds collection and licensed by RealtyTrac in more than 900 counties nation wide.

“Home sellers in many markets are now seeing average price gains close to or above what home sellers experienced during the last housing boom,” said Daren Blomquist, senior vice president at RealtyTrac. “That should encourage more homeowners to take advantage of the prime seller’s market and list their homes for sale this year. Banks are already taking advantage of that market as evidenced by the uptick in the distressed sales share over the last two quarters.” Localized report on that part of the report will be posted to this site in the next few days.

The report’s data sheet shows mixed results when compared to March 2008 – the local pre-recession benchmark. Local averages were higher than the national average that month because the Tri-Cities went into the recession a year behind the rest of the nation.

Sullivan sellers got an average increase of $28,400 in March of 2008, so as impressive as last month’s gain was it still lagged the benchmark.

Washington County sellers saw the opposite. The average gain in March 2008 was $35,900 compared to last month’s $49,950 high.

Localized reports on distressed sales prices, FHA sales totals and all-cash sales will be posted to this site in the next few days.

Avg seller dollars

CLICKING ON GRAPHIC RENDERS A LARGER DISPLAY FILE The two months noted in red were losses for local sellers.

 

 

Avg seller gains

CLICKING ON CHART RENDERS A LARGER FILE

 

 

 

 

 

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