Enterprise, Daleville, Ozark & Fort Rucker
October 2008 Market Recap Report
The 2008 year is quickly coming to and end. This year sure proved to be a roller coaster ride for the housing industry. Below you will find the October 2008 Wiregrass Real Estate Market Activity for the Enterprise Alabama, Fort Rucker & surrounding area. In this edition, I will include a month to month comparison highlighting the housing trends since January 2008. The housing market is rapidly changing, so check back often to stay informed or you can subscribe to the monthly Market Report for the Ft. Rucker, Enterprise and Wiregrass area.
Information source Wiregrass Board of Realtors® MLS (WBMLS)
ONLY RECORDED DATA IN THE MLS
IS INCLUDED IN INFORMATION BELOW
During the month of October there was 132 homes listed (145 last month) in the Wiregrass MLS. The average list price was $169,720 compared to last months $163,654. Single family homes accounted for 109 of those listings, 19 were town houses, 1 Duplex and 3 were manufactured (mobile) homes. The Wiregrass MLS (WBMLS) total Dollar Volume for new listings in the month of October was $22,402,981.
Single family homes average listing price was $180,137 and a median price of $158,400.
During October 2008 - homes in the Enterprise AL and the Wiregrass surrounding area had an average sold price of $141,265 (up from last month’s $123,549) with a median price of $131,175, based on the Wiregrass MLS (Multiple Listing Service). The total Dollar Volume of $10,171,299 reflected homes sold (actually went to closing)during the month of October 2008 in the Wiregrass area compared to September's Dollar Volume of $9,019,100.
October 2008 yielded 72 homes sold, not far off from the 73 homes sold in September. When homes go to closing, ownership changes hands and the new owners are listed on the tax records, which are recorded at the Coffee County Courthouse in Enterprise or the Dale County Courthouse in Ozark.
The Average days on the market (DOM) for the month of October 2008 was 134 days compared to 128 in September of 2008.
Current Conditions as of November 18, 2008:
Active listings: 813 Pending Listings: 89 Subject to leases: 24
Active listings are homes listed on Wiregrass MLSthat are on sale in the Enterprise, Daleville, Ozark, New Brockton, Clayhatchee, Fort Rucker, Elba and surrounding areas. Pending listingsare homes that have a contract or offer that has not been completed and changed possessions. It is possible that homes that are pending in the Wiregrass MLS may come back on to the market for sale. Homes, town houses and mobile homes that are subject to lease are currently being occupied by tenants and are typically marketed to investors. However, a careful review of when the lease is due to end may result in the listing being ready for owner occupancy.
The Absorption rate in the Enterprise / Fort Rucker and the surrounding area is 50 weeks or approximately 12 months of inventory if the current conditions remain unchanged and continue to sell at 17 homes per week.
"Statistics not compiled or published by WBMLS."
Equal Opportunity Housing
All information deemed reliable, but not guaranteed
Selling a home in the Enterprise / Fort Rucker Wiregrass area? The Wiregrass Market Report published by Fort Rucker Relocation Specialist, can help you understand the market trends in the area. In addition, request a FREE Market Analysis for your home selling process by calling Michelle at 334-237-2657.
On PCS orders to the Fort Rucker area and considering buying a home in the Fort Rucker area? Contact Michelle Tucker, FT Rucker Relocation Specialist, to help you prepare for you military move to the FT Rucker area. You may also request to be put on the FT Rucker Rental Homes weekly mailing list.
Authored by: Michelle Tucker
Pictures Courtesy: flickr
Original Post: www.activerain.com
All Rights Reserved. Copy Right 2008. Michelle Tucker
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