Market Report 2009

By
Real Estate Broker/Owner with REALTY EXECUTIVES of Lebanon

This report pertains to residential homes on less than 10 acres sold in Laclede County between January 1 2009 and December 31 2009 as reported by the Lebanon Board of Realtors MLS.

The totals number of homes sold on less than 10 acres in 2009 was 240, those homes sold for a total of just over 26 million. That was down 4% from 2008's 250 homes that sold for a little over 27.7 million. 2009 sales were 44% below the all time high of 424 sold homes back in 2005.

The average price for homes sold on less than 10 acres was around $108,700 with a median price of  $95,000. This average was down 2% from 08's 110,800 and the median price had a 4% drop from 99,000 in 08.

The average number of days on the market for sold homes in 09 was 190 days. A large increase from 2008's 137 days.

As of January 8th 2009 there were 288 homes on the market with less than 10 acres and listed with the Lebanon MLS, that is a 14% decrease over January of last year. The average asking price is almost $144,000 and a median asking price of just about $116,000; these homes have an average time on the market of 175 days.

Well 2009 was another down year for Laclede County and foreclosure sales made up 20% of all sales compared to 14% in 2008, this has caused property values to decline slightly. Realty Executives has found that even in these trying times for our market we managed to grow as a company by increasing our sales volume by nearly 40%. Our small company had the highest volume of sales out of all of the members of the Lebanon MLS and moved over 16 million dollars worth of real estate in 2009. We know that our place as the number 1 company in Lebanon is due to our loyal customer referrals along with our unrelenting commitment to excellence. We want to thank all of our clients and let everyone know that we appreciate their business and look forward to serving Laclede County's buyers and sellers for many years to come.

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