The first 55 days of the Racine Real Estate Market as compared to the previous four years statistics indicates continued market adjustment. The number of sold properties, the average sales price, and variance of List Price to Sold Price have been in decline since July of 2006. Days on market has increased since 2004.
THESE STATISTICS ARE FOR SINGLE FAMILY HOMES SOLD EAST OF I-94 FROM JAN.1,2008-FEB.24,2008
YEAR # SOLD AVG. SOLD PRICE DAYS ON MARKET VARIANCE LIST TO SOLD PRICE
2004 131 $135,027 55 3%
2005 135 $147,493 60 2%
2006 154 $160,177 75 2%
2007 148 $153,780 85 3%
2008 97 $146,890 101 4%
THESE STATISTICS ARE AS REPORTED FROM METRO MULTIPLE LISTING SERVICE AS OF 2/24/2008
THE 2008 NUMBERS ARE ALSO INFLUENCED BY RECORD SNOWFALL AND LOW TEMPERATURES. (EXTREME WEATHER HAS AN ADVERSE EFFECT IN ANY MARKET.)
ALL OTHER INDICATIONS POINT TO AN ENCOURAGING OUTLOOK FOR THE RACINE AREA REAL ESTATE MARKET.