Kenneth Kirkman, general manager of Landfall Realty, recently presented his annual summary of real estate activity in Landfall for the year, and provided observations about the current state of the real estate market in Landfall, and throughout the region. Attended by a large number of Landfall residents, the meeting, at Country Club of Landfall, also gave the attendees a chance to ask wide rainging questions.
Sales for 2012 are about 20% ahead in transactions year to year, with most of the increase coming in the under $750,000 home price range. Most of the bargain sale properties sold in 2011, so the floor on prices has risen, but the ceiling has stayed fairly constant. Almost all national indexes are showing improvement, but still are weak on a historical level.
For 2012, Kirkman aniticpates more of the same. Demand will remain strong, but value buying is still prevalent. Prices will likely continue to compress from bottom to top, but volume, in terms of transactions and dollars, will likely again increase The stability of Landfall is a great sales attribute in the current environment.
Thanks to Envision mortgage for sponsoring the food and drink, and to all of the Landfall Realty team for a very successful 2012.