2008 year end Real Estate Market Report for Lebanon and Laclede County This report pertains to residential homes on less than 10 acres sold in Laclede County between January 1 2008 and December 31 2008 as reported by the Lebanon Board of Realtors MLS.
The totals number of homes sold on less than 10 acres in 2008 was 250, those homes sold for a total of just around 27.7 million, that was down 24% from 2007's 328 homes that sold for a little over 38 million. 2008 was 41% below the all time high of 424 sold units in 2005.
The average price for homes sold on less than 10 acres was almost $111,000 with a median price of almost $99,000. This average was down 4% from 07's 116,000 and the median price had a 9% drop from 109,000 in 07.
The average number of days on the market for sold homes in 08 was 137 days. Close to the same from 2007's 139 days.
The list price to sale price ratio for these sold homes was 95% with an average of just over $6100 negotiated off the asking price. In 07 sellers had similar results @ 95% and close to 6000 average negotiation.
As of January 8th 2009 there were 335 homes on the market in Laclede County with less than 10 acres listed with the Lebanon MLS, that is a 4% increase over January of last year. The average asking price is almost $139,000 and a median asking price of just about $115,000; these homes have an average time on the market of 160 days.
Total units sold per month by year
Real Estate for 2009 looks as if it will still be touch and go. There are a lot of unknown factors and a new untested administration in Washington. We have high hopes for a rebound this year for sellers, but more likely than not it will continue to be a buyers market.
Comments(0)