So, how does January 2009 compare to January 2012. How has the market changed and in what direction is it going. This is only for single family homes. A snapshot;
2009 17 Sold $426,853 Average Sold Price 146.88 SP/SQ 122 Days on Market 92.59% SP/LP
2010 16 Sold $538,094 Average Sold Price 204.32 SP/SQ 106 Days on Market 95.79% SP/LP
2011 21 Sold $460,129 Average Sold Price 156.56 SP/SQ 64 Days on Market 92.78%SP/LP
2012 18 Sold $383,206 Average Sold Price 156.95 SP/SQ 122 Days on Market 91.11% SP/LP
As of February 5, 2012 there are 113 active single family homes on the market. The absorption rate over the last years shows a slowing of the market. Last June, 2011 the absorption rate for this area was 4.33 months, in September it was 4.6 months and for January, 2012 it is 6.80 months. In June there was a strong seller’s market and the trending is moving to a buyers market. Over 6 months of inventory indicates a buyers market and right now the market is even at 6.8.
The average single family home in this area has 3 bedrooms, 2 bath, 2408 square feet. The average listing price in January, 2012 was $394,699.
