Yearly Home Sales Up in Bay County - WMBB News 13 - The Panhandle's News Leader

Yearly Home Sales Up in Bay County

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If you're looking to purchase your first home or maybe move to another, Bay County realtors said interest rates are low, prices are still low, and now is a good time to buy.

However, as we move into the new year, Bay County Association of Realtors President Keith Hodges said he's expecting some slow changes and an eventual turnaround to a seller's market.

For the past few years, the buyer has mostly had the upper hand in the county, with many homes for sale at fairly cheap prices.

"I think the market has been in a big change since 2009, and we went down to pretty much what I think the bottom is," said Hodges. "Now turning around, we're trying to load back up with listings, but we have so much fewer than say five years ago. Five years ago, we had 30 months of inventory, and now we have less than eight."

The statistics aren't drastic, but during every month this year, more single family homes were sold compared to last year. For example, 2.6% more homes were closed in November compared to the same month in 2012.

"Last year was a very good year. In 2013, we're going to be up almost 15% [in sales] compared to 2012 so it's very good."

In November, the average sale price for a single family home in Bay County was $183,844, up about $6,000 from the average in November last year.

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