December 2007 YTD Home-Site Market Trends for The Big Canoe Community:
There are currently 111 home-sites currently on the market in The Big Canoe Community, which has dropped by 20 during the past 60 days.
The median price for all listings in $149,999.
The median price for all sold sites is $100,000.
The overall market in total dollars is down 46.2% YTD vs. YTD 2006.
In units, the market is down 50% (20 vs. 40).
Average days on market for units sold are 127.
Currently we have a 134 month supply of inventory.
Summary:
2007 was not an easy year to sell homes-sites in Big Canoe. Going into 2008 with a 11.2 year supply of inventory sets up strongly for a buyer’s market. 48% of all the lots sold in Big Canoe were below $100,000.
On the plus side, many builders are getting their inventories in line. Local banks are anxious to lend money on lots and “oh ya” rates are pretty darn good.
Folks, many people ask us, “Are we at the bottom?” The only way to know if you hit bottom is when its on its way up…its then too late. Just like the stock market.
Bottom line: Its now the time to buy!! Please let your friends and family know that.
Until Next Time (60 days),
The Beechler Group
Tom & Kelly
Source: Brokermetrics
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment