Nothnagle Sales Soar in April

Closings were up 43% for April 2010 vs. 2009. Since the beginning of our Fiscal Year on October 1st, sales volume has increased 37% and units closed 28% over the previous year. Several factors have been contributing to the dramatic rise in sales this year.

First, the Upstate NY market continues to be one of the most stable markets in the country right now. Housing remains affordable and there is a healthy supply of homes on the market. While our region may not have experienced the dramatic appreciation that occured elsewhere a few years ago, we have been fortunate that the dramatic downturn didn’t hit hear either.

Interest rates remain extremely low and there is mortgage money available. The low rates allow people to qualify that maybe otherwise wouldn’t if the rates were 9 or 10 percent. We’re seeing our average sales price increase which may be an indicator that with the low rates buyers are getting “more for their money” since more of the monthly payment can be applied toward principal instead of interest.

Of course the federal tax credit certainly didn’t hurt! Many buyers that were on the fence probably were swayed by the $6500-$8000 incentive they received. But even in the weeks following the expiration of the tax credit, we’re still experiencing a lot of activity in the market.

It’s still a great time to buy…and sell! And more consumers are selecting Nothnagle because we have agents that can get the job done….12 days faster! Since January 1st, our listed homes are selling 12 days faster than the competition. Why? Because more buyers choose Nothnagle for our award-winning website and the various tools we offer and sellers get the most exposure possible for their homes.

It’s a great time to be in the real estate market. Are you interested in buying or selling? Contact a Nothnagle agent directly, or call 899-MOVE to get started! Or take advantage of our “Live Chat” feature on Nothnagle.com.

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