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CONGRATULATIONS TO OUR TOP AGENTS

Thomas "Moose" Praytor - Sales Agent

Linda Chamlee - Listing Agent


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October 2014 Housing Report

Housing Rebounds in October, Sales-Prices Higher

  • 430 homes were sold in October versus 398 in September. Up 8%. October 2013 sales were 415 homes, 3% higher. Total Sales 2014-4,416 compared to 4,650 in 2013, down 5%!
  • Average home prices in October rose to $164,401 compared to $153,864 in September – Up 7%.  Average sales price for 2013 was $154,484 compared to 2012-$150,255 and 2011-$140,344.
  • The time it takes to sell was down 9 days from 113 days in September to 104 in October. Down 8% Average time on market in 2013 was 103 compared to 108 days in 2012.
  • Pending home sales were up to 507 homes in October compared to 476 homes in September.  
  • Supply of available inventory fell to 8.60 months compared to 9.45 months in September.  Average supply for 2013 was 8.88 months, 2012 was 10.13 months. Total houses on market remained at an extremely low level of only 3,702.

The rebound of housing in October comes as a pleasant surprise after the disappointing numbers from September. Housing was better in every category we follow; number of homes sold-higher, average price-higher, time it takes to sell-lower, inventory-lower and pending sales, which is an indicator of November sales, higher. The most significant number in October housing was the number of homes sold. For the first time in 2014 monthly sales were higher than the same month in 2013. October 2013, 415 homes were sold while October 2014, 430 homes were sold. While this is a small difference it bucks a big trend in housing for 2014. Having prices rebound is nice but as we’ve seen prices have been hacking either side of the $160,000 level for some time. Another big positive is pending home sales being higher going into November. Housing normally slows down going in to the end of the year and doesn’t regain momentum until the Spring buying season. Higher sales in November and December would be a trend reversal that we have not seen in this area in some time. Last month we talked about the mid-term elections being the next big mover for the economy and housing. For those folks looking for a change they got it and hopefully with the change in the Senate the mood of the country will change to something more positive than where we’ve been. The mid-term elections, lower fuel bills and trend breaking home sales all point to a very positive near term for housing.

Interest Rates: As the market and economy continue to improve we normally would expect to see interest rates move higher. In fact over the last 30 days they have taken a dip lower. The rate sheet we have been receiving daily over the last 10 years is quoting 3.375% on 30 year FHA/VA and 3.00% on a 15 year fixed.

Congratulations to the Moose, Thomas Praytor on being our leading agent in October.

 

Vince Emmons Wins Jamie C. Praytor Humanitarian Award

The Mobile Area Association of Realtors has named Vince Emmons the recipient of the Jamie C. Praytor Humanitarian Award for 2012. Emmons earned the award for his work with special needs students at Augusta Evans School. For years the kids at Augusta Evans have recycled Mardi Gras beads as a fund raiser. Emmons started by making one child’s dream com true by securing him a ride in a Mardi Gras parade after working all year to recycling beads. That effort has now grown to 3 floats and 85 special needs kids being able to ride in last years parade. “Vince is a classic example of one person deciding to make a difference and making it happen, a perfect recipient for this year’s award. Fifty years ago, my Grandmother, Susan Catlin, was an early advocate for special needs children and both she and my Mom would be thrilled about this year’s choice,” offered Tommy Praytor. The Mobile Area Association of Realtors will donate $500 to Mobile’s Challenged Revelers in Emmons honor. Old time race fans may remember Emmons from his racing days in the early days of Mobile International Speedway.  

Picture: Thomas Praytor, Emmons and Hayley Praytor

  

2011 Jamie Praytor Humanitarian Award Winner
Larinda Gann Musgrove


Larinda Gann Musgrgove earned the 2011 Jamie Praytor Humanitarian Award for her tireless volunteer effort in our community. Larinda serves on the McKemie Place advisory council and has orchestrated many events and improvements to the building, as well as being actively involved with the YMCA College of Mentors program. Recently Larinda co-chaired the TLAR Love fund, raising funds to help a family purchase a memorial marker for a local realtor. A past president of the Women’s Council of Realtors, a regular contributor to the Children’s Miracle Network. We at Praytor Realty are honored to see Larinda receive the 2011 Jamie Praytor Humanitarian Award.
 

 

 

 
 
 
 
 
 

 

 

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Last modified: November 13, 2014