A quick compilation of housing numbers for the month of November 2010 are as follows:
Total Closed Sales: 83 (decrease from 79 for month prior)
Total Foreclosures Sold: 28 (increase from 25 for month prior)
Foreclosure/sales Ratio: 34% (32% month prior)
Average Sold Price: $117,293 (decrease over last month)
Median Price: $93,500 This is a change of -2.56% YTD as compared to last year.
Lowest Sold Price: $7,000
Highest Sold Price: $300,000 with list to sale price ratio of 91% (585 Days on Market)
Average List/Sell
Price Ratio 91% (decrease from 93% prior)
Average Days on Market 129 (solds) (an improvement for two consecutive months, still driven by quick sales of investment properties and other well priced homes.)
Total Homes on Market
as of 12/2/2010 1,263 (increase from 1242 on October 1st)
Overall our market remains steady but sluggish with some homes being sold quickly and others not being shown. This is a definite result of a number of factors, most important being location, condition, and price. Consumers have recognized good pricing and overall value and are picking up the deals. There appear to be very few "steals" in our market and are most likely related to being conditionally repaired.
Interest rates have climbed steadily for the last 3 weeks and probably a result of inflationary pressures. The average 30 yr fixed rate is at 4.75%. The time to buy is now, not later!
Numbers compiled from Northeast Mississipi Board of Realtor MLS statistics on 12/2/2010 and may be within a slight margin of error based on total and timely reporting.
For more detailed information about our market or neighborhood specific reporting, please contact Randy Landis at EXiT Realty Premier, Tupelo.
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