Number of homes sold: 17 (60)
Avg. price/sf: $361.34 ($363.07)
Avg. sales price: $1,474,997 ($1,594,985)
Avg. days on market: 108 (75)
*2007 statistics for same time period in ( )
So far in 2008 only 17 homes have sold within HPISD. You know I'm not one for doom and gloom news but I'm shaking just getting out my calculator because it ain't gonna be pretty. That is a 72% decline in number of homes sold compared to the same time period one year ago. Please don't tell Steve Brown about this. Don't believe me? See 2007 here and 2008 here. And we even had one more day in February this year. Ouch! What gives? DOW got everyone down? Pun intended.
EDITOR'S NOTE: I realize that there will probably be a few closings that were not input into the MLS last Friday so I'm sure there will be a few that hit the MLS Monday and Tuesday. But it still won't be close to last year's numbers.
It is a unique market and requires planning on who to appeal to. Many are offering bus rides to investors to view properties. The trick is to get the news out there it is really not so bad so people will consider buying and selling again. I think if realtors took out an add and ran it in the paper and notified media one could start a new trend. Showing them all the possiblities that are out there at the current time.
ReplyDeleteSo while sales may be down the thing is to figure out how to get the message out to buy and sell. What may be lost on sale is made up for in purchase of a house currently in many areas.
Jeff, I think your 2008YTD data did not include any sales from February, which is what caused such a huge drop year-over-year when compared to the first 2 months of 2007.
ReplyDeleteThanks Britt. You're right. Due to some technical issues the month of February was left off. See my revised post for the true stats.
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