Okay folks, I know alot of you out there are disgusted with the current real estate market, both home sellers and Realtors alike. But how do we "quantify" a bad market ? what do the actual numbers look like ? Middleboro, Ma- current market states
273- number of current active listings(homes for sale)
175- average days on market for entire price range
So, where does you home fit into the current scheme of things? check the table below which tells us about price segments and average days on market respectively. Find your home price range and average days on market and meet me under the chart.
Towns: Middleboro
| 5/13/2008 | 6/13/2008 | ||||
| Price Range | Number of Listings |
Avg. Days on Market |
vs. today | Number of Listings |
Avg. Days on Market |
| Under $50,000 | - | - | - | - | |
| $50,000 - $99,999 | - | - | - | - | |
| $100,000 - $149,999 | - | - | 1 | 15 | |
| $150,000 - $199,999 | 5 | 185 | 4 | 228 | |
| $200,000 - $249,999 | 16 | 144 | 16 | 126 | |
| $250,000 - $299,999 | 23 | 133 | 22 | 183 | |
| $300,000 - $349,999 | 19 | 136 | 22 | 91 | |
| $350,000 - $399,999 | 21 | 229 | 17 | 245 | |
| $400,000 - $449,999 | 11 | 166 | 14 | 230 | |
| $450,000 - $499,999 | 16 | 216 | 16 | 182 | |
| $500,000 - $599,999 | 12 | 195 | 11 | 205 | |
| $600,000 - $699,999 | 4 | 67 | 3 | 65 | |
| $700,000 - $799,999 | - | - | - | - | |
| $800,000 - $899,999 | - | - | - | - | |
| $900,000 - $999,999 | 3 | 273 | 3 | 304 | |
| $1,000,000 - $1,499,999 | 1 | 12 | 1 | 43 | |
| $1,500,000 - $1,999,999 | 1 | 292 | 1 | 323 | |
| $2,000,000 - $2,499,999 | - | - | - | - | |
| $2,500,000 - $2,999,999 | - | - | - | - | |
| $3,000,000 - $3,999,999 | - | - | - | - | |
| $4,000,000 - $4,999,999 | - | - | - | - | |
| $5,000,000 - $9,999,999 | - | - | - | - | |
| Over $10,000,000 | - | - | - | - | |
| Total Properties | 132 | Avg. 172 | 131 | Avg. 175 | |
so, what does this mean to YOU, the consumer and home-owner ?? Look at the AVERAGE days on market for the entire price segment---184 days ! so, what does this mean ? Put your home on the market and the average time from list to sale is OVER 6 months ! And that is the average which means that some stay on the market longer and some less. ***REFER back to lesson #1- PRICE IT RIGHT THE FIRST TIME, otherwise, you too will be on the market for 6 months. Just thought I'd give you the sobering stats, PRICE is everything in this market. No one wants to be on the market that long- who actually plans 6 months out ? What is YOUR expectation of selling your home ? So, where is this in perspective to a strong housing market like in 2005 ?
2005 Median home selling price= $379,900 2008 median price=289,900 difference of approx. $90,000
avg. days on market in 2005? 97 Days, one year earlier in 2004 avg. time on mkt. was, get this ONLY 63 days !! so, avg. time on market has TRIPLED in 4 years and double in 3 years so, folks, that's where we're at and that's the perspective of it. So, keep those cards and letters coming and if you have questions about the market or a home sale or purchase, please feel free to visit my website at www.ToddBaz.com
or send me an email at Todd@ToddBaz.com
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