As mentioned in a previous blog I thought I would break down a few numbers. So here you go:
IN the 350-400,000 price range
Sales are down 22.4% (BAD)
New listings are also down 30% (good less competition coming on the market)
Days on the Market down 40% (good what is there is staying on the market less time) = 102 days
On the other end of the scale: In the 150-200,000 price range in the Columbia School District
Sales are down 15.64% (Bad)
New lisings are also down, but only by 4.26% (bad when compared with the amount that sales are down).
Days on the Market is also down 8% but this only translates to an average of 73 days on the market.
While I've indicated bad and good, really over time will tell. It's a great time for people to buy. My gut tells me these great interest rates won't last forever.
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