Carthage Area Market Report for August 2007

By
Real Estate Broker/Owner with Oak Creek Realty Group LLC MO# 1999078273

My team and I continuosly monitor local real estate statistics to keep our clients informed and ahead of the real estate trends. Below you will find Carthage area real estate statistics for the period August 2007 as compiled by the Ozark Gateway Association of REALTORS®.

 

Carthage Area Market Condition Report

 

New Homes on the Market

Total Active Homes on the Market

Homes Sold for the Period

Homes Under Contract

Homes that Expired

Homes that were Withdrawn

Ratio of Homes Entering the Market vs Leaving

Price Changes

Average Days on Market for Solds

List/Sale Price Ratio

 Median Sales Price

Inventory Absorption Rate in Months

April-07

47

215

33

48

25

4

0.76

50

131

97%

 $  90,019.00

6.52

May-07

58

211

27

41

18

5

1.16

32

125

96%

 $  80,000.00

7.81

June-07

62

218

30

30

27

20

0.81

34

129

97%

 $101,250.00

7.27

July-07

63

248

18

27

21

7

1.37

49

130

99%

 $134,750.00

13.78

August-07

40

232

31

36

22

12

0.62

51

145

94%

 $  73,000.00

7.48

September-07

 

 

 

 

 

 

 

 

 

 

 

 

October-07

 

 

 

 

 

 

 

 

 

 

 

 

November-07

 

 

 

 

 

 

 

 

 

 

 

 

December-07

 

 

 

 

 

 

 

 

 

 

 

 

January-08

 

 

 

 

 

 

 

 

 

 

 

 

February-08

 

 

 

 

 

 

 

 

 

 

 

 

March-08

 

 

 

 

 

 

 

 

 

 

 

 

YTD Avg

54

224.8

27.8

36.4

22.6

9.6

0.94

43.2

132

97%

 $  95,803.80

8.57

Two numbers that deserve some explanation are the Ratio of Homes Entering the Market vs. Leaving the Market and the Absorption Rate. The Ratio is an indication of where the market is headed in general. A ratio below 1 indicates that the inventory is being pulled down whereas a ratio above 1 would indicate that we are adding to the inventory. The Absorption rate indicates how quickly the inventory is being absorbed or sold. For a given month the absorption rate shows how long in terms of months it would take to sell off the entire inventory if nothing else came on the market and if sales stayed stagnant at this month's level. The ratio will tell you if you're headed toward a buyer or seller's market while the absorption rate tells you where you are now. For instance, For August in Carthage the ratio is 0.62 which tells me that we are adding inventory at a rate somewhat slower than we can dispose of it. On the other hand, with an absorption rate of 7.48 in August I know that Carthage has recovered from the momentary lapse into a buyers market it had in July and is now in a more normal market. When watching the absorption rate a number between 5 and 6 months indicates a normal market. A number at or below 4 months indicates a sellers market and a number at or above 7 months would indicate a buyers market.

If you would like a free list of homes for sale anywhere in the area, I'd be happy to help you in anyway that I can. Please give me a call at:

Walter Hayes, GRI, ABR, RECS, e-PRO

Keller Williams Realty of Southwest Missouri

531 E 15th St

Joplin MO 64804

417-649-67776

http://www.walterhayes.com/; http://thehayesteam.com/; http://www.showme-realestate.com/; http://www.joplinmohomesforsale.com/

Email: walter@walterhayes.com

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Walter Hayes

Keller Williams Realty of Southwest Missouri

619 S Florida

Joplin, MO 64801

Office: (417) 623-9900

Walter: (417) 649-6776

Fax: (512) 519-7578

E-Mail: walter@walterhayes.com

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