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JUNE 2009
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INCH BY INCH, STEP BY STEP
Every indicator is going the right direction. Unlike your neighbors over in Marshall County every thing improved from last month. The Market still has a ways to go to get back to where it was but I would rather see it slowly work it's way back than suddenly. Compared to April sales are up 14% with 385 homes sold. Average price was up 3.4% and the median was fairly steady with an increase of .07%. Days on the Market are down from 94 to 89. Of course sales are still down 22% from May of 2008 and the Average and Median prices are down 5% and 8% respectively. So there is a lot of ground to be made up. With that we will just go straight to the charts.
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The Charts 
Chart shows the number of Residential homes sold in each month along with the average Days On the Market for those properties. I like to put Median and Average prices together. The main number to watch is the Median Price. It is the better indicator of what price homes are selling for. This chart is pretty obvious, just the raw number of homes for sale. Number of months of Inventory is a better indicator of the Market. This is a good indicator of supply and demand since it included the number of homes sold. More inventory the more it is a buyers market. Less inventory it becomes more of a sellers market. Of course all factors must be considered and you should not just rely on one set of numbers. This chart is a duplication but I like the way it is laid out. You can see the number of sales each year for each month making it easy to see differences in the past few years.
The Trend Line is important. It averages over the previous 3 months of data and helps to allow for the spikes and dips and shows what I think is a more accurate trend. It is the thin black line at the top of the bars in the graph. It is more important than any single months data. |
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