Listings as of 2/3/07 – All information deemed reliable, but not guaranteed.
Residential - Active
|
| 2 BR | 3 BR | 4 BR | 5 BR | All BR |
| # Units | 151 | 205 | 87 | 22 | 465 |
| Average List Price | $91,568 | $151,203 | $216,845 | $279,850 | $150,205 |
| Average Market Time | 76 | 89 | 90 | 74 | 84 |
| Average Sq Ft | 1126 | 1598 | 2065 | 3346 | 1615 |
Residential - Pending
|
| 2 BR | 3 BR | 4 BR | 5 BR | All BR |
| # Units | 20 | 30 | 11 | 3 | 64 |
| Average List Price | $70,193 | $126,863 | $162,909 | $167,233 | $117,242 |
| Average Market Time | 47 | 68 | 97 | 9 | 64 |
| Average Sq Ft | 1021 | 1401 | 1949 | 2056 | 1407 |
Sold – January 2007
|
| 2 BR | 3 BR | 4 BR | 5 BR | All BR |
| # Units | 7 | 19 | 4 | 1 | 31 |
| Dollar Value | $386,600 | $2,303,717 | $744,500 | $123,600 | $116,632 |
| Average List Price | $59,043 | $121,453 | $191,200 | $129,900 | $116,632 |
| Average Sold Price | $55,229 | $115,985 | $186,125 | $123,600 | $111,562 |
| Average Market Time | 66 | 130 | 61 | 118 | 106 |
| Average Sq Ft | 953 | 1450 | 2137 | 1718 | 1435 |
| % of List Price | 93.54 | 95.5 | 97.35 | 95.15 | 95.65 |
January 2007 saw a decrease in the number of homes sold compared to 2006 going from 35 to 31. The price of homes fell 11.7% from $126,284 in Jan 06. The current Monthly Absorption Rate is 17.03. The Monthly Absorption Rate is the time it would take for all listings to sell if no other homes were put on the market. More than six months is considered a buyer’s market while less than six months would be a sellers’ market. As you can see, we are in a buyer’s market. What this says is that buyers are taking their time to make their decisions. There are is a lot of competition between sellers. This is why it is so important for sellers to get your home priced correctly early so you give yourself the best chance it has to sell.
If you have any questions about or would like to know the market conditions for your specific area or neighborhood contact me at bmumaw@semonin.com.
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