I have been doing some research on the residential home sales in our county and found some interesting results. These numbers compare Jan 1-Mar 31 2007 (1st qtr) to Jan 1-Mar 31, 2008. Here is what I found.
|field||1st qtr 2007||1st qtr 2008|
|Total # of listings||54||67|
|Avg Sales price||$ 130,297.00||$ 124,033.00|
|Avg Days on market||190||193|
As you can see, the number of listings actually went up, as well as the # of sold units. The percentage of Units listed to units sold dropped slightly from 68% to 67%, but that is a nominal difference. The avg sales price dropped 5%. These numbers are taken from our regional MLS, and do not count FSBO, or listings withdrawn. However as you can see, our market has not been effected as greatly by the economy as some of our larger cities.
If you have any comments, or stats from your area please share them. I would like to hear how the market is in other areas