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BERKLEY - MARKET REPORT MARCH 2009

By Bobbie Files

Real Estate Agent with Success Real Estate

April 01, 2009 10:28 PM

Total Market Report is provided to give you an overall picture of the current market conditions.The following report is for single family homes sold in Berkley from March 1, 2009 - March 31, 2009.

Single Family Homes

Number of Homes on Market              39 (down 1 from last report)

Average Days on the Market             223 - Staying Stable at this number

Number of Homes U.A.G                     5 - March was an INCREDIBLE month filled with Activity!!

Average Price of U.A.G. Homes        $280,920

Number of Homes Sold                        1

Average Sold Price                         $315,000

                                                            ~$300,750 As of March 3, 2009
                                                            ~$283,833 As of February 8, 2009
                                                            ~$250,000 As of January 8, 2009
                                                            ~$361,250 As of December 5, 2008
                                                           ~$259,125 As of November 2, 2008
                                                             ~$312,913 As of October 3, 2008
                                                             ~$435,000 As of September 3, 2008
                                                             ~$0           As of August 16, 2008
                                                             ~$334,250 As of July 9, 2008
                                                             ~$317,800  As of June 12, 2008
                                                             ~$418,333 As of May 1, 2008
                                                             ~$286,833  As of April 8, 2008
                                                             ~$180,000 As of March 8, 2008
                                                             ~$344,250 As of February 7, 2008
                                                             ~$349,000 As of January 8, 2008
                                                             ~$262,442 As of December 9, 2007
                                                             ~$243,125 As of November 7, 2007
                                                             ~$645,500 As of October 4, 2007
                                                             ~$331,000 As of Sept.1, 2007
                                                             ~$349,073 AS OF AUG. 4, 2007
                                                             ~$356,473 AS OF JUNE 24, 2007

Average Asking Price                       $349,713

Lowest SALE Price                            $315,000
Highest SALE Price                           $315,000

WOW!!!!!! What an active month March was! 5 homes were priced to sell and buyers recognized it and bought!!!!! There is still pent up activity, plenty of buyers are jumping off the fence and buying. Position yourself as a Home SELLER not just a homeowner with your house on the market.

You want your home IN the market not ON the market.

The absorption rateplummeted to 6 months from 10 months in the month of February. Lots of inventory was purchased! There has been a tremendous increase in the number of buyers in the marketplace - rates are at an historic low - the government is putting immense pressure on the banks to work WITH homeowners not AGAINST them and help them restructure their loans to try and prevent additional foreclosures from hitting the market.

What do you need to know if you are a homeowner looking to sell?

Your home MUST (and I mean MUST) be in a condition that an F.H.A. or V.A. approved buyer can purchase call me to find out what steps you MUST take to ensure your home is in the condtion required by these mortgage programs

According to the facts of record we are still losing value. Not great news I know, but it stresses the importance of properly pricing your home UPFRONT!

Price it ahead of the curve and you will open your home up to the largest pool of potential buyers which will sharply lessen your market time AND increase your bottom line! I would rather see any seller get multiple offers to choose from than no offers at all.

Call me for a competent, accurate analysis of your home.