Vigo County Market Report
The market in Vigo County has shown sign of decline sure, but not quite as much as the dooms-day reports are insinuating. According the THAAR (Terre Haute Area Association of REALTORS®) Year end report 2,151 homes were closed in 2007 down 7.92% from 2006. The average list price was down 3.61% which is reflective of the average sales price declining 4.3%. The average days on the market for homes in the area went up from 88 days in 2006 to 98 days in 2007, an increase of 11.36%.
I don't have any numbers to back it up as of right now but as of February the phone call are picking up. Curiosity combined with better weather conditions are bringing out the buyers. I hope that this will be enough to relieve a good portion of the sellers that have been feeling strapped lately.
Pfizer Inc. dropped their inhaled Insulin Exubera, eliminating 660 jobs along with it. Many people are forced to sell, which has some areas over populated with sellers. The problem is that even though these are perfectly good homes and priced to sell, many buyers are nervous about buying a home in an area with so many homes on the market.
**The facts and figures represented in this article are based off an the Terre Haute Area Association of REALTORS® and are intended to reflect the market condition of this market only. For facts and figures for your market please consult with a REALTOR® who specializes in your market.
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