Whether we've hit the bottom of the real estate market yet or not is the prevailing question on most people's minds these days. Although always difficult to determine an exact bottom or top of a market while in it, you can see trends that seem to be indicators. Towards the end of 2010 it seemed the Anthem real estate market might be bottoming out. And although February's numbers didn't look strong I think we are at or near a bottom here. We'll need to see a few more months of data to make a definite decision.
Here are the numbers for February 2011:
January '11 February '11 Feb. vs. Jan. Feb. 11 vs. Feb. 10
# of homes Sold 79 32 (59%) (68%)
Average Sale Price $217,809 $187,158 (14%) (15%)
Average List Price $224,419 $193,750 (14%) (13%)
Sale Price % of List Price 98% 98% 0 (1%)
Avg. Price per Sq. Ft. $88.20 $86.78 (2%) (3%)
Avg. Days on Market for Sales 105 114 9% 22%
Highest Sale Price $650,000 $535,300 (18%) (26%)
Lowest Sale Price $76,000 $75,000 (1%) (6%)
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