Market Report 5-8-09

Real Estate Broker/Owner with REALTY EXECUTIVES of Lebanon

This report pertains to residential homes on less than 10 acres sold from March 13th to May 7th as reported by the Lebanon Board of Realtors MLS.


In the last 7 weeks there were 33 homes sold for a total of almost 3 million. The average price of these homes was almost 91 thousand and the median price at 73K these homes had an average time on the market of 182 days. There are currently 12 homes listed as under contract in the Lebanon MLS and those homes have an average price of 99 thousand.


Year to date there have been 63 homes sold, down from last years 87 during the same time frame the average price is up to over 106 thousand dollars compared to last years 100K, the YTD volume of almost 6.7 million is down from last years 8.7 million. Our average time on the market this year has been 165 days, that's drastically up from last years 147 day average.


As of this morning there were 340 homes in Laclede County with less than 10 acres, listed with the Lebanon MLS. The average asking price is over $144,000 with median asking price of just about $120,000; these homes have an average time on the market of 170 days.


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Pete Spencer

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