I'm going to take a look back on the last THREE years of the Eastman Real Estate market. Just so you know it's really not that bad.
Briefly, 2008 started out quite nicely and we were ahead of last years sales through the first half of the year. Then the financial crisis hit in September and really slowed things down. Below are some total sales figures and median prices based on data from our Multiple Listing Service (MLS)
• 2006- 70 home sales, median price $273,000
• 2007- 55 home sales, median price $268,000
• 2008- 39 home sales, median price $267,250
As you can see, the volume or number of sales has declined by a significant amount but the median price is only down $5750.
Considering the market has been in a down trend for about three years, the median price has help up very well.
Taking a look at condos, things are a little different.
• 2006- 13 condo sales, median price $235,000
• 2007- 16 condo sales, median price $244,500
• 2008- 19 condo sales, median price $229,000
With less volume the median price fluctuates more, but if you look at 06' compared to 08' the median price is down $6000 very much in line with our home sales. The strength in 07' comes from two units selling for $370,000 and a total of four units over $300,000. In 08' there was one, in 06' there were three units selling over $300,000
If you would like more information on Eastman or any other town, please feel free to email or call me any time. I would be happy to answer any questions you might have. My web site, direct line and email are below: