Home Truth Snippet: 2014 over 2013
- Median home price up 16.7% to $206,000
- Home sales up 53%
- Days on the market up 29% to 166 days
- Current inventory: 9.9 months
- Market favors: Buyers
While that jump in the median home price over last year might initially indicate that the Turner real estate market is going strong, what it really means is that new construction was going strong in Turner. With developments off Delaney Rd selling relatively well, home prices appear to have increased, but it just means that new construction homes, which are more expensive, sold.
The days on the market is a bit deceptive as well because builders typically put homes on the market well before they are ready for sale in case a buyer wants to pick colors. As such it appears that homes are taking longer when they really aren’t.
Turner is still a slower market and there is a bit more inventory there so it does favor buyers at this time.