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Lake Cyrus Real Estate Market Report
This Lake Cyrus real estate market report is a continuation in a series of blogs about the performance of some of the larger neighborhoods in Hoover, AL to assist buyers and sellers in assessing their negotiating position.  I should disclose that I am a resident of this neighborhood and have lived here for the past three years.  Let's take a look at sales and inventory history for the last three months of 2009 in comparison to the same period in 2008 by referring to the chart below:
 
 
 As shown in the chart at left, improvements in sales (both units and volume) and average days on market would suggest a relatively strong neighborhood relative to supply and demand.  However, there is weakness in the average list and sale prices and, while pretty strong in December, months inventory appears a little problematic.  Now take a look at the chart below / right:
 

What the chart are right shows is that homes currently listed (i.e., have not yet sold) are (1) priced higher and (2) have been on (and stay on) the market longer.  It also shows that new construction, which in Lake Cyrus has predominantly (if not EXCLUSIVELY) been homes less than $275,000, is selling ... more

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