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Welcome to the Collins Group Realty February 2014 Market Update

March 4, 2014
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It seems the Polar Vortex has put a chill on our real estate market as it has distracted and/or kept-at-bay our regular buyer-audience in the early part of 2014. As snow continues to fly in many of our main feeder-markets, the interest in buying real estate in our area is likely both VERY MUCH TOP OF MIND while at the same time sitting down a little further on the to-do-list as people focus on school, work and travel delays. Our sense is that this winter is going to drive/build pent-up demand, so we do expect a nice rebound once the snow and ice melt “up north”.That said, the number of closed sales are up 7% from this time last year, and the Sales Price/List Price ratio even bumped a 10th of a point. Meanwhile, the market activity has been more focused on the mainland, resulting in a drop in the average price-point of properties that buyers have purchased year-to-date.We remain optimistic about the Spring market…as the calendar is filling up with buyer-appointments already.Here’s hoping you are doing well, and that the Polar Vortex has cleared your area FOR GOOD!All our best-
Chip
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