There are market segments that are doing well. Then there are some that are not doing so well. Here is a chart of home sales the past 12 months compared with 2006.
Price Range Listed 2009 Sold 2009 Ratio Listed 2006 Sold 2006 Ratio
$0 - $200K 1169 442 37.8 1293 654 50.5
$200K-$500K 1076 225 20.9 1136 430 37.8
$500K - $1M 318 42 13.2 270 84 31.1
$1M and up 82 12 14.6 66 12 18%
This chart illustrates what market segments are hurting the most. The $500,000 to $1M home market is off by 50% from 2006. This represents the "lake home" market. The $200K to $500K is down from 430 units to 225 units. The luxury $1M market is off but unit sales remain the same.
Some good news here is that showing activity is way up. Perhaps we will see a robust fall? There has never been a better time to be a buyer!
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