The stats for this week, (9/24/07–10/1/07), show that the market is still marching on. Houses are still selling at a fairly steady rate.
Forty Pending sales this week is pretty good for this time of year. Divide 40 into the total amount of listings of 926 and you have 23 weeks of inventory. That is less than 6 months.
Some define a buyers market as one in which there is more than 6 months of inventory. That doesn’t mean we are out of the recent slowdown in real estate because we aren’t averaging 40 closed sales a week yet.
We will see our market slow down over the winter and then pick back up next spring. By next May, we will have a good idea whether we are coming out of this slower market or not.
| Average Price | DOM | ||
| New | 40 | $234,485 | |
| Total Active | 926 | ||
| Pending | 40 | $216,974 | 92 |
| Closed | 28 | $222,827 | 91 |
But even if it is a little slower, it’s certainly not dead. Houses that are priced to sell…are selling. Houses that are priced to sit…are sitting.
There is more than price involved however. Not only does the price have to be good, the presentation has to be excellent, as does the marketing.
Give me a call if you are in the market to buy or sell, We, (Jay and I), received offers on two listings in the last week and wrote offers on two other houses. We are still in the negotiating stages on a couple of those.
We would love to help you buy or sell your house as well. Call (907) 373–0999. That number simultaneously rings on both my and Jay’s cell phone.
