One county shows boost in real estate sales. The annual report from the Cass County Assessor’s Office shows an increase in arms length sales for 2012 after two straight years of very low numbers. Assessor Allen Sutcliffe says 2012 had 336 residential sales compared to 2011’s total of 238 and 2010’s total of 237 residential sales. (In 2007, 5 years ago, there were 369 residential sales.)
The Cassgram reports “Preliminary sale prices jumped from an average of $153,000 in 2011 to $174,000 for 2012, though some outlying areas are still seeing flat prices. The 2012 average sale prices were significant since averages were at $153,000 for both 2010 and 2011.” says Sutcliffe. “Values seem to be rebounding within the county after several flat years and assessments will likely climb for 2013. As many of us know 2014 and beyond is anyone’s guess.”
As always there were a number of foreclosure and HUD-type transactions that are not counted as 'good' sales.
Sutcliffe also noted that “The county has a new look to its web-GIS where the public can search on sales using several parameters. It is fairly simple to use and provides more useful detail on properties to make it easier to compare.”
The assessed value for Cass County’s residential properties has easily fallen within the state-mandated range of 92% to 100% of market value for the last five years and was at 98% for 2012 valuations.