Market trends

By
Real Estate Broker/Owner with Calhoun Real Estate NM License #11011

Red River is very fortunate in that we are a little mountain resort town surrounded by national forest. Our land supply is very limited and therefore our values have remained somewhat stable.

Our local area currently has 85 listings with an average DOM of 356. Year to date, 38 properties have sold with 10 pending. In 2011 39 properties had sold with only 1 pending, and in 2010, 30 had closed with no pending. As far as values, we did peak on the high end, but instead of feeling a crash, we had more of a correction. There have been 3 properties come on the market this year that were very well priced and they all were under contract withing 2 weeks. The buyers are there, we just need to educate our sellers to the importance of pricing right at the beginning.

Realestate.com has a very interesting article about the Housing Market Roller Coaster and is certainly worth looking at.

Riding the Trillion-Dollar Real Estate Recovery Roller Coaster.

Comments (2)

Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

Linda, this is great local information but I'm not sure why you made it a member's only post. This is exactly the type of information you want buyers and sellers to see. Welcome back to AR after a long hiatus.

Oct 11, 2012 08:03 AM
Linda Calhoun
Calhoun Real Estate - Red River, NM
Selling Red River since 1962!

Thanks Tammie, I changed it to public.  Wish I had more time to stay on AR.  I can't believe all the wonderful information!

Oct 11, 2012 09:27 AM