We started off the year with 38 homes sold in January and just 30 sold in February. A disaster of a year in the making. But then along came March with 67 sales to pull us out of our nose dive.
And at 67, March sales look very good and, as I mentioned the other day, stack up very well against the last few years.
So here are the sales numbers for the 1st quarter of this year & years past;
2010
135 sold;
avg $564,717/median $449,000/@ $184/sf
97 sold @ $0 - $599/26 @ $600 - $999/12 @ $1.0 +
2009
107 sold;
avg $525,097/median $445,000/@ $183/sf
76 sold @ $0 - $599/21 @ $600 - $999/10 @ $1.0 +
2008
123 sold;
avg $709,725/median $535,000/@ $229/sf
74 sold @ $0 - $599/32 @ $600 - $999/17 @ $1.0 +
2007
138 sold;
avg $680,184/median $539,750/@ $234/sf
77 sold @ $0 - $599/43 @ $600 - $999/18 @ $1.0 +
2006
194 sold;
avg $740,570/median $575,000/@ $246/sf
100 sold @ $0 - $599/54 @ $600 - $999/40 @ $1.0 +
There’s not getting around it though, the improvement in sales is due largely to an increase in sales at the low end. While the rest of the market is, at best, still struggling.
In 2006 $0 - $600 represented 51% of all sales. In 2007 it grew to 56%. In 08 it was 60%, in 09 71% and 72% this year. Conversely, the the market share for high end sales has shrunk from 20% in 06 to 9.3% in 09 & 8.8% so far this year.
So in addition to lower prices overall, more low-end and fewer
high-end sales have of course contributed substantially to lower average and median sold prices.
