I have given you monthly market reports for Waco and Mclennan county real estate, but since it is a shiny new year I thought I would give you a market snapshot for the last year.
In 2009 there were 3,507 residential properties listed and 2,109 or 60% of them sold. That means we have 8 months of inventory. If no more home were listed, it would take 8 months to sell all what is currently on the market. Anything above 6 months is considered a buyers market. Less than 5 months is a sellers market, and between 5 and 6 months is a balanced market ( balanced markets are very rare and short lived).
The average home listed in Waco in 2009 listed for $136.624. The average sold price was $130,382 or 95% of the sales price. 18% of listing expired with out being sold. The average list price of expired listings was $160,739. So there were a lot of listings out there that buyers perceived as overpriced.
Comments(0)