Parkwood Year-End Home Sale Report for 2008


The average sold price was $189,000 in 2008

We are currently back down to 2005 prices in value. 2006 and 2007 were an all time high for Parkwood.

In 2008 home values dropped 3.5% from 2007, which was the highest average sold prices of all time at $196,000.

The number of sales slipped 14% in 2008 with 82 Parkwood homes sold down from 96 in 2007. The highest number of homes sold was in 2004 at 122.

6% of homes that sold last year were forclosures in Parkwood which affected the average value.

Looking forward we should expect home prices in our neighborhood to continue to fall through 2009, stabilizing in 2010. This is due to the projected forclosures this year.

www.BigJoeMcCarthy.com

*This information is based strictly on row homes in Parkwood. No single homes, townhomes, or condos were used in this analysis. Homes sold that were not labled in the Multiple Listing Service as Parkwood were not used in this analysis, so there may be a small margin of error.