In our neck of the woods, trends are more of a local event than a national following. We recently had the usual slow down because of snow birds heading back to their chilly northern homes. That was all well and fine....and to be expected. I started new marketing campaigns and rearranged my home office. Then about 3 weeks ago the phone stopped ringing. The email leads stopped coming. "Oh dear!" I thought, "are we really going to have to participate in this down turn market?" I looked to my web stats to give me hope and all they did was confirm that folks weren't interested.
WELL!! this week I have seen a change. My phone is ringing again, speculators are calling. Neighbors are responding to my postcards....and YES! my web stats are headed back up. I don't think this means I can be rewarded with a new pair of shoes yet but my toes can feel them coming!
Data from the MLS shows that there is a flood of property on the market for the Bisbee area, and some prices are beginning to come down. Our California and Phoenix buyers will hopefully notice this soon and take advantage of the opportunity. The previous 6 months had seen an 11.5 percent increase in "Old Bisbee" home sale prices. The rest of Bisbee which is not so much a tourist place stayed pretty level. I expect the situation now will bring down the previous increase just a bit.
Douglas, our border city has had an increase in home sales prices. This past month the median sales price was $108,000, while the previous 2 months were 77,500 and 73,000. This indicates for now that there is a bit of a steady increase. We do have more border patrol moving to the area which may explain this increase.
Nonetheless, both Douglas and Bisbee are places where you can have a home, or even land (acreage) for a very reasonable price.
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