EMERYVILLE, CA– New data released by ZipRealty, Inc. (http://www.ziprealty.com) (NASDAQ: ZIPR),
the nation’s most prominent online technology-powered real estate brokerage
firm and real estate marketing solutions provider, shows ongoing strength,
tempered by moderation, in the housing market.
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| Lanny Baker |
Median home sales prices were up 16.2% year-to-year to an
average of $278,000 in 24 markets analyzed in the Aug. 15 edition of
ZipRealty’s Housing Trends Report, and new pending sales increased by 19% in
mid-August 2013 compared to the previous year, according to ZipRealty CEO and
President Lanny Baker.
“In the wake of this
year’s strong rebound in housing, sellers continue to bring an increasing
amount of for sale inventory onto the market, with 173,000 new listings in the
recent 30-day period, a 10% increase over the prior year. And, those new
listings are selling well, with an average sold-to-list price ratio of 99.1%
and an average of 28 days between listing and sale,” says ZipRealty CEO and
President Lanny Baker.
“Higher mortgage
interest rates and the seasonal slowdown that typically occurs in the fall are
expected to cause a degree of moderation in housing market trends.
“For the first time in several months, the median days on
market ticked upward in the current report to 28 days from 27 days a few weeks
ago. More than half of the cities studied saw the length of time it takes to
sell a house rise by a day or two,” he adds.
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For a complete copy of the company’s news releases,
please contact:
Media Contact: Stacey Corso
510.735.2667
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