Last month we explained the area covered by the City Core Lyon Real Estate Trendgraphix report. This month we will delve a little deeper into the most current data for that same area.
The chart above is a 15 month snapshot of our market. From the data we see that inventory, available properties, on the market January 07 over January 08 have increased by 20% this year. While that may not sound like good news it isn’t necessarily bad news either. Looking even further back to include the data for Nov and Dec 06 with the Jan 07 numbers we see that a total of 15 properties went ‘Pending Sale’ in the area while 13 actually closed and became ‘Sold’.
Looking at the data for the same three months in the most recent time period we see that 16 properties have gone ‘Pending Sale’ and 20 have closed to become ‘Sold’. Likewise the total number of properties on the market during those time periods also is slightly lower in the 07-08 time frames than the 06-07 period.
While there is no denying that sales have slowed somewhat these last few months, falling interest rates and a relatively stable price market in the City Core mean there is no reason to believe the sales pace won’t kick back up in the spring as usual. It also means that there are still buyers in our market. That properties properly prepared for sale and correctly priced still have people ready to buy them.
The tasks for sellers are to price it realistically and make your home stand out by taking care of those nagging little details you were always going to get to someday. Professional staging can make a difference as can taking care of the yard and maybe even cleaning up your neighbor’s yard too!
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