Well, the first half of 2009 is over! Here are the stats for the second quarter of this year for single family homes in Toledo, Ohio:
Here are how the numbers compare:
2009 2008 Difference
Units listed 1,771 2,132 -361 (-16.9%)
Units Sold 782 783 -1
Inventory Accumulation 3.79 5.17 -1.38 (-26.7%)
Average Sold Price $69,318 $80,310 -$10,992 (-13.7%)
Median Sold Price $52,700 $67,000 -$14,300 (-21.3%)
Average DOM 99 97 +2 (+2.1%)
So, what does this all mean? Basically, it's a mixed bag. With regards to the number of units listed being down and the units sold staying even, that means that there are fewer homes on the market versus last year at this time (that's a good thing for sellers). The downside is that the homes have been selling at loewr prices versus last year. This means that if you are selling your home, you may have a little less competition (depending on the neighborhood), but expect to sell it for a little less than you might think it will sell for. Buyers still have a lot of choices right now, and the 2 big factors for them are price and condition of the property.
Contact me today to receive a free analysis of your home's value!
Remember, the first time home buyer's tax credit goes away on December 1, the time to make an offer is TODAY!