Time for a quick check again on the Waco Residential Market.
Inventory is up slightly and prices are down a bit compared to last year and last month. This may not be a huge surprise, but it may also not be as big of a change as you were expecting.
With all the press about the US economy and housing problems, you might think the worst. But here in Waco, you just can't ignore the fact that homes are still selling at a steady pace.
Certain parts of our area are better than others, but this is the way it has always been. No matter how you look at it, "good" homes are still selling quickly. And if you want to buy a "good" home, it's usually in your best interest to act fast.
So what do I mean by good? Same as always, Price, Location, and Condition that outshines the competition. Simple as that. But now, more than ever, these factors play a role with inventory remaining on the high side. Buyers have more homes to choose from, so your home should be strategically positioned as the "best" in its class to overcome a lost sale to the neighbor down the street.
Interest rates are still low and home choices are many. Buyers should strongly consider taking action during times like these. We cannot predict exactly what interest rates will do in the future, nor can we predict when exactly the housing market will turn around Nationwide. There is much speculation, and much well-researched data, but the biggest thing we all understand is that buyers tend to be in a better position in conditions like these.
Current Residential Listings (Does not included Farm and Ranch)
This Month Total 1757** Last Month Total 1709**
February 2008 142 Sold** Median Sold Price $110,000** Average Days on Market 139** | February 2007 193 Sold** Median Sold Price $115,300** Average Days on Market 134** |
January 2008 131 Sold** Median Sold Price $112,000** Average Days on Market 147** | January 2007 133 Sold** Median Sold Price $105,000** Average Days on Market 144** |
Need more advice and information on Waco Real Estate?, CONTACT ME for a FREE Initial Consultation.
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**This information was obtained from Waco MLS on February 29, 2008 and is believed to be accurate, but can not be guaranteed.** Nor can any of the information in this blog be guaranteed. Use at your own risk.
Wendy Montoya, Realtor®, e-PRO, SRS
http://www.wendymontoya.com/
Century 21 Towne Adams
- YOUR Waco Realtor at Work for YOU!
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Hi Wendy, needed to get this one going for you :)...add some pictures, you got that link on mine about Help...pretty please...Pictures? right? It's the best post I've read on how to get pictures that look great on your post. Here is an example, I'm putting 2 in the verticial space, 2 in the horexinial space and 4 on the frame space, all those are under the 2nd tap apperiance...meet my baby, Mr. Rhett Butler,
He is 12 years old, and he has never been on a lease and never leaves my side. Hope your business is off to a great start in 08. Liz