It seems the "gloom and doom" news outlets are reporting this housing crisis every which way you turn. And in some markets, that may very well be the case. Here in the Shoals Area, however, things seem to be ok, and the numbers back this up.
Here are some statistics on the housing market for 2008 in The Shoals Area, covering all of Lauderdale and Colbert Counties, including Florence, Muscle Shoals, Sheffield, Tuscumbia and Killen:
May 2007
# of homes sold - 161
Average selling price - $134,648
Average days on the market - 79
Total dollar volume - $21,678,322
Median selling price - $108,000
# of houses on the market - 908
May 2008
# of homes sold - 174
Average selling price - $131,725
Average days on the market - 70
Total dollar volume - $22,920,119
Median selling price - $117,500
# of houses on the market - 1104
1/1/2007-5/31/2007
# of homes sold - 749
Average selling price - $121,844
Average days on the market - 77
Total dollar volume - $91,261,264
Median selling price - $95,000
1/1/2008-5/31/2008
# of homes sold - 683
Average selling price - $132,600
Average days on the market - 77
Total dollar volume - $90,565,890
Median selling price - $110,000
The proof is in the pudding. The numbers definitely paint a different picture than what some other markets may be experiencing.
Housing Statistics courtesy of the Shoals Area Association of REALTORS.
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