· Our real estate market has fared better than some other parts of the country and state!
However:
· Inventory levels are climbing (it's Spring) and sales are sluggish.
- 63% of homes sold in the first quarter of 2009 where under $200,000.00
· Homes priced between $200-299,999K represented 23.9% of all 1st quarter sales
· Homes priced at $300k & up represented only 13% of 1st quarter sales .
· Buyers are scarce and offering prices are lower. Days on the market are increasing.
· Until inventory levels of new and existing homes come down substantially AND the economy improves, the downward pressure on prices will continue to intensify, as sellers compete for fewer qualified buyers that are actively ready and willing to buy now.
· If you are considering selling make sure you understand the ramifications of getting in the market now (longer time on market, fewer showings and lower offers). You must be priced right to sell in this current market.
The $8000.00 tax credit is the ticket
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