REAL ESTATE RECOVERING: In CoMo, local Realtor says

COLUMBIA, 6/9/12 (Beat Byte) -- With active residential listings down 17% compared to this time last year; pending contracts up 23%; and closed contracts up 33% over this time in 2011, the Columbia real estate market is in recovery, says local Realtor David Townsend.

"All of this points to an improving market," Townsend told an e-list last month. "The best listings are selling quickly at close to full price and in some cases at or above full price."

 

Townsend attributes the slow recovery to historically low interest rates; rising rental rates; and a "Columbia economy and population that continues to grow." Buyers would be wise to make a move "sooner rather than later," and sellers, Townsend explained, stand a better chance of selling for a 'reasonable' price than they have in a long time."

 

Good news aside, however, "there are still some weak market segments where prices are depressed or where there is no movement at all," Townsend said. In other words, good buying opportunities still exist.