On the Westbank, we started January 2011 with similar number of listings on the market as January of 2009 & 2010. Number of Sales, for the month of January, are slightly higher with 84 solds in 2011 compared to 77solds in 2009 and 74 in 2010. Sellers appear to becoming more realistic in asking price with the overall average listing price in January 2009 at $196,247 to $188,174 in January 2010 until now in January 2011 at $169,366.
Although, the average listing price of the homes that actually sold were still much lower as the chart below shows comparison of January 2009, 2010 and 2011:
(Click on any chart below to enlarge)
This table below compares statistic totals for all of 2009 to 2010 for Single Residential Homes on the Westbank:
This chart above shows in % the following:
- Only ↑ 1.5% # Listings in 2010 over 2009
- Average Listing Price of All Listings ↓ 9.3% 2010 over 2009
- # Sales ↓ 8.6% 2010 over 2009
- Average Listing Price of Sold Listings ↓ 5.9% 2010 over 2009
- Average Actual Sold Price↓ 6.2% 2010 over 2009
- DOM (Days on Market) ↓ 7.4% 2010 over 2009
The following charts show the month to month comparisons of statisitcs for Single Residential Home Listings and Sales on the Westbank:
Overall, it appears buyers are continuing to be very cautious, and spending at an average less on a home than in the past. Therefore, the lower priced homes are selling the fastest and overpriced homes don't have a very good chance of selling... although, the market still continues to stablize. It is predicted by many experts that an abundance of foreclosures are going to be dropped into the market later this year and that another wave of mortgage tightening in on it's way. If this is the case, and you have been waiting for the right time to sell a home, now is the time to do so.
Call Us Today:
Posts
No comments:
Post a Comment