Strong Claremont real estate market will continue into 2014
What a great and interesting year for the Claremont real estate market! Compared to the year prior, we saw significantly less inventory, with homes selling in less time, for more money. We saw interest rates jump a full percent over the course of a week this spring, where they are now holding relatively steady. We saw equity return to those who were previously “underwater” on their mortgages. The number of short sales dropped by over 50 percent from the year prior, and only accounted for 6 percent of total sales in 2013! We are seeing the year come to a close with several new townhome construction projects throughout the city. This should make for a very interesting 2014, as we’ll see how the sale of those townhomes will impact the re-sale market. Overall the Claremont real estate market continues to head in a positive direction.
Information provided by Ryan Zimmerman, Wheeler Steffen Sotheby’s International Realty