Given all the bleak economic news I've been seeing in the newspapers and on television, it was a nice surprise to see the monthly update from the Realtor database that was released today.
The total dollar volume of homes sold in Clarksburg last month was $6,570,174, which is an increase of 58.20 percent compared to September 2007.
The number of homes sold almost doubled in September 2008 compared to September 2007 (Fourteen versus eight), and the median selling price of those homes dropped by only 0.31 percent. So that's the good news.
If you're a seller, the not-so-great news is that, on average, homes are taking substantially longer to sell -- an average of 210 days compared to 67 last year. Part of that increase is attributable to "short sales," where owners are attempting to sell homes for less than they owe the bank. The lender reviews that are required for each of these sales can be very time consuming, which is one factor that is driving up the days-on-the-market statistics.
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