February 2009 Market Stats Are Here!
Team Byerly's Market Update!
Good News!
178 more homes sold last month than the month before! See attached stats.
What's selling?
- In February, the "hottest" price ranges with a combined 36.6% market share were under $50,000 (166 sold), $100,000-$119,999 (127 sold) and $200,000-$249,999 (117 sold). Once again, it looks like investors are swooping up the low price ranges that are "bank-owneds" because they can cash flow those rentals and/or eventually flip them.
- 1,120 homes sold in February with an average sale price of $160,145...average days on market was 102, and list price to sale price ratio average was 92.87%.
- Year to date: 2,062 homes sold with an average list price of $172,891 compared to the year to date average sold price of $160,321.
- We currently have 16.88 months of inventory to "sell". Unfortunately most of that is not because we have a lack of buyers, it's because we have a lack of realistic sellers! The lowest inventory is in the under $50,000 range, the highest inventory is in the $800,000-$899,999 range.
Questions about the market? Thinking of making a move or know someone that is? Please remember us! Your referrals are greatly appreciated and always rewarded!
For a copy of the full report, go to www.teambyerly.com!