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Brought to you compliments of Horton Appraisal and Inspection. It has taken longer than most of the country but the Real Estate slowdown has made its way to Madison County. November sales figures show a big drop in sales. Yes, November is traditionally a slower month, but this is much lower than anything I have seen in the past five years that I have tracked the numbers. I will just jump straight into the figures since they tell the story. November only had 226 sales in Madison County compared to 380 last month. That is a drop of over 40%, down 52% from November 2007. Average sales price was down 13% from October but only 1.1% from November 2007. Yet median price was up 17% last month from $169,250 to $189,975. Inventory jumped dramatically from 9.2 months to 15.5 months in November. The number of homes for sale stayed about the same with 3,515 homes for sale compared to 3,494 in October. But the lack of sales drove the number up. I will be the first to say I am not expert but another month like this and I don't think any could say it was not a buyers market. One bit of good news is the Days on the Market stayed steady at 82 days compared to 80 in October. Just less of them sold. This is an excerpt From Jeff Horton's Article. Please contact Jeff for a link to the complete article thebottomline@hortonappraisal.com Avar Realty specializes in Flat Fee Real Estate Brokerage. Save thousands on commissions when using our service. Full details are on our website www.avarreatly.com
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