At the beginning of each month, I will putting up a few key numbers from the previous month with a comparison to the same month last year. As Real Estate is a seasonal market with some months traditionally being better than others, this will provide the truest comparison for how the market is doing.
Caldwell County:
| Caldwell | 07/07 | 07/08 |
|---|---|---|
| Closed |
80
|
42
|
| Average Days on Market |
133
|
117
|
| Average Sales Price |
$150,000
|
$118,000
|
| New Listings |
148
|
101
|
Catawba County
| Catawba | 07/07 | 07/08 |
|---|---|---|
| Closed |
132
|
102
|
| Average Days on Market |
139
|
141
|
| Average Sales Price |
$112,000
|
$181,000
|
| New Listings |
236
|
208
|
As you can see, both the number of homes sold and the homes newly listed is down in July of 2008 as compared with July of 2007. This not only means that fewer homes are selling, but that more sellers are waiting until they have a better feel for the market before they put their house up for sale.
My advice for sellers is that you need to see what the specific competition for you house will be on the market right now. With fewer homes being listed, you might actually have a better chance of getting a good price for your home if you have a property that doesn’t have a lot of competition on the market.
My advice for buyers is that there are a lot of good deals out there right now, as on a lot of houses, it is something of a buyer’s market. This doesn’t mean that you are going to necessarily ’steal’ a home, but you have a great chance of finding a great value. I will say that you shouldn’t expect builders to move to much on their new construction. Most builders have seen this coming and have scaled back production to match market demand, which means that the market isn’t flooded with new construction listings.
If you don’t see the statistic that you would like to know about, please let me know, and I’ll post the numbers for you. Remember, if I can answer any questions or help you with any of your real estate needs, please let me know. You can reach me by cellphone at 828.302.8530 or you may e-mail me at jgriffin@bengriffin.com
