The first quarter statistics for real estate are in.
From January 1, 2009 to March 31, 2009.
Number of homes sold 2009 = 394 in 2008 = 367
Average list price in Saginaw County 2009 = $62,941 in 2008 = $91,453 a 31% decline.
Average sell price in Saginaw County 2009 = $57,055 in 2008 = $85,433 a 33% decline
The average price per square foot 2009 = $40/sqft in 2008 = $55/sqft.
The number of units sold has increase however the prices still continue to decline.
The good news is, as the prices drop more inventory will be sold. As the inventory is sold off and prices continue to adjust downward, this will help move more of the bank owned properties.
Once a good deal of the bank owned properties have been absorbed, then the prices will begin to come back to normal.
Please call or email if you would like to up to date statictics in your area.
Thank you,
Kenneth M. Kujawa, CCIM, RECS
989-239-5581
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