2009 in review

Rich Moen (RE/MAX Solutions) — Wed, 06 Jan 2010 15:08:35 -0800

Market update through December 2009
Below you will find a detailed review of the home sales for Watertown comparing 2009 to 2008.
While home sale units were up 60% in November December saw a reduction of 23%. Over all units sales were down for the entire year compared to 2008 by 8%
After declining in November, the median home sales price increased by 8.7% in December. That brought the year to date median price to $129,750 or down 11.6% compared to last year.
We continue to see that the distressed properties are still putting severe pressure on our housing values. Once these get out of the system I believe prices will again be able to rebound.
Overall prices may have been down but the last ½ of the year really offered reason for optimism. And we are seeing an increase in activity in showings and offers. I really expect 2010 to continue the improvement.
If you have not heard the First Time Home Buyer tax credit was extended until April 2009. Plus they added a $6,500 tax credit for current home owners who have owned their home 5 years. So now is a great time to look at purchasing that new home you have been wanting. Prices are down and you may qualify for a tax credit as well.
Call me if you have any questions or are ready to get started in a real estate purchase or sale.
If you would like sales statistics for a different community I would be more than happy to get them for you.
Wishing you a Blessed Christmas and Prosperous New Year,
Rich Moen
920-988-0588.

Yearly Market Comparison Comparing Entire MLS As of Monday, January 4, 2010 2:09:40 PM
Search Parameters: Property type Single-Family Status of 'Sold'; Sold Date between '1/1/2008' and '12/31/2009'; County of 'Dodge', 'Jefferson'; Municipality of 'Watertown'; Association of Metro MLS.

Number of Sold Listings	Dollar Volume of Sold Listings	Median Sale Price
	2008	2009	Diff	Chg	2008	2009	Diff	Chg	2008	2009	Diff	Chg
January	8	6	-2	-25.0%	$ 1,251,100	$ 845,275	-405,825	-32.5%	170,000	120,750	-49,250	-29.0%
February	17	8	-9	-52.9%	$ 2,614,950	$ 924,500	-1,690,450	-64.7%	136,000	107,250	-28,750	-21.1%
March	17	17	0	0.0%	$ 2,755,350	$ 2,227,559	-527,791	-19.2%	144,000	133,000	-11,000	-7.6%
April	25	10	-15	-60.0%	$ 3,959,100	$ 1,398,250	-2,560,850	-64.7%	152,500	123,500	-29,000	-19.0%
May	26	26	0	0.0%	$ 4,392,005	$ 3,197,800	-1,194,205	-27.2%	165,000	128,000	-37,000	-22.4%
June	18	15	-3	-16.7%	$ 3,296,600	$ 2,376,150	-920,450	-28.0%	180,950	169,000	-11,950	-6.6%
July	15	18	3	20.0%	$ 2,386,900	$ 2,477,110	90,210	3.7%	148,700	138,450	-10,250	-6.9%
August	21	18	-3	-14.3%	$ 3,654,850	$ 2,580,200	-1,074,650	-29.5%	175,000	130,000	-45,000	-25.7%
September	15	20	5	33.3%	$ 2,205,057	$ 2,854,700	649,643	29.4%	139,582	150,500	10,918	7.8%
October	18	21	3	16.7%	$ 2,374,935	$ 2,704,000	329,065	13.8%	116,500	128,000	11,500	9.9%
November	10	17	7	70.0%	$ 1,343,100	$ 2,019,100	676,000	50.3%	136,250	114,900	-21,350	-15.7%
December	13	10	-3	-23.1%	$ 1,402,360	$ 1,382,187	-20,173	-1.5%	115,000	125,000	10,000	8.7%
Total	203	186	-17	-8.4%	$ 31,636,307	$ 24,986,831	-6,649,476	-21.1%	143,500	129,750	-13,750	-9.6%

Number of New Listings	Dollar Volume of New Listings	Median List Price
	2008	2009	Diff	Chg	2008	2009	Diff	Chg	2008	2009	Diff	Chg
January	16	15	-1	-6.2%	$ 2,554,700	$ 2,081,200	-473,500	-18.6%	144,950	135,000	-9,950	-6.9%
February	17	14	-3	-17.6%	$ 3,143,300	$ 2,304,900	-838,400	-26.7%	149,900	152,225	2,325	1.6%
March	23	13	-10	-43.5%	$ 4,226,295	$ 2,033,700	-2,192,595	-51.9%	189,900	139,900	-50,000	-26.3%
April	12	20	8	66.7%	$ 2,061,600	$ 2,823,800	762,200	36.9%	168,950	139,900	-29,050	-17.2%
May	15	10	-5	-33.3%	$ 2,627,700	$ 1,415,800	-1,211,900	-46.2%	148,900	140,400	-8,500	-5.7%
June	14	8	-6	-42.9%	$ 2,099,570	$ 1,219,800	-879,770	-42.0%	149,900	141,400	-8,500	-5.7%
July	19	18	-1	-5.3%	$ 2,588,700	$ 2,184,595	-404,105	-15.7%	120,000	114,900	-5,100	-4.2%
August	17	5	-12	-70.6%	$ 2,300,600	$ 630,300	-1,670,300	-72.7%	131,000	132,500	1,500	1.1%
September	12	11	-1	-8.3%	$ 1,911,868	$ 1,345,490	-566,378	-29.7%	140,950	129,500	-11,450	-8.1%
October	19	4	-15	-78.9%	$ 2,673,500	$ 369,400	-2,304,100	-86.2%	139,900	93,400	-46,500	-33.2%
November	11	3	-8	-72.7%	$ 1,452,300	$ 276,800	-1,175,500	-81.0%	130,000	84,900	-45,100	-34.7%
December	14	0	-14	-100.0%	$ 1,695,000	$ 0	-1,695,000	-100.0%	95,900	0	-95,900	-100.0%
Total	189	121	-68	-36.0%	$ 29,335,133	$ 16,685,785	-12,649,348	-43.2%	144,900	130,000	-14,900	-10.3%

Information is deemed to be reliable, but is not guaranteed. See copyright notice.

real estate market challenges

Rich Moen (RE/MAX Solutions) — Thu, 11 Dec 2008 18:43:52 -0800

Well the numbers are out!

Nationally there is 9.9 months of inventory on the market. Too much to help a rebound in prices.

In SE WI however we are above the national average. This inventory will take sometime to shrink and the foreclosures keep coming.

That being said, first time home buyers should be coming into the market in droves!

With the tax credits available, low interest rates, low prices and selection, there has never been a better time for someone to get out of paying the landlords mortgage and start building their own networth. Yes, the market will turn around and yes price will eventually start back up. In the mean time, there are many deals out there that at current interest rates a buyer will be paying less than rent.

If you or someone you know is renting and plan to be in the area for 3 or more years you(they) need to act now before the best is gone.

Call me, I can help! 920-988-0588.

Make it a great day, the choice is yours!

Rich

Rich Moen's Blog

2009 in review

real estate market challenges