I thought I would take a moment today and review the first two months of 2008 with the first two months of 2007. Here are some of the numbers I found. I reviewed these by township. So for Center Township.
# of active listings for 2007 was 302 compared to 265 for 2008.
# of new listings for 2007 was 49 compared to 46 for 2008.
# of sold listings for 2007 was 17 compared to 13 for 2008.
# of expired listings for 2007 was 28 compared to 27 for 2008.
# of pendings for 2007 was 73 compared to 23 for 2008.
avg list price for 2007 was $148965 compared to $153415 for 2008.
avg sale price was $143562 for 2007 compared to $144756 for 2008.
The only major change was in the number of pendings 2007/2008. We seemed to be below last years numbers for that category. It seemed to be the same in other townships for this same period. Was it the weather? or the credit crunch? It could have been the rise in the avg list price. It has increase approx $5000 from last year leaving us with almost a $10,000 difference between avg list and avg sales price. This difference was only $5000 last year.
I think that sums it up. In today’s market you will have to price your home competitively to get it sold. Over price listings tend to sit on the market as the qualified buyers wait for the homes they perceive to be a good value.
Don
Filed under: Real Estate | Tagged: Danville, Danville Indiana, Homes, houses, Indiana, investment, property, Real Estate
