Tuesday, December 2, 2008

The Real Estate Market Continues To Hold On...

While the markets have declined from last year, the real estate market continues to hold on. The residential sales of homes sold in September of 2007 equals 490, in September of 2008 it equals 432; this is down 11.84%, The average price of those homes sold in 2007 is $160,718 while the average price in 2008 is $140,942, at a 12.30% decline. We have noticed that the average amount of days a home is on the market in 2008 is 86 days versus in 2007, where the average amount of days a home was on the market was approxiamnately 81 days. I've always seen the real estate market as an exciting career and enjoy the challenges that each deal may bring, however, I do feel like we are making history with interest rates, short sales and the buyer's choice market. Perhaps, one day we will look back and see the progress that has been made in the home buying/selling markets. Until then, we press forward making the best out of each new situation that we may come upon

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