Yes, I finally have some good news. I am surprised but the December numbers are up some. January is traditionally the lowest month of the year with December being close. So I was surprised to see the sales numbers up from 225 sales in November to 309 in December. Not great, but it is an improvement.
Maybe peoples' confidence is up or the bargain shoppers are coming out? Regardless, I know we are all glad to hear some good news for a change.
December residential sales were up 37.3% compared to November. The average price was down -14.9% and the Median Price was down -15.8% compared to November's sales.
Compared to December 2007 sales were down -25.7%. Average price is down 12.4% and Median price is down -10.5%.
Looking at the previous 12 month average compared to December sales were down -27%. Average sales price is off -11% and Median price is down -8%.
Jeff Horton
In order to improve the Newsletter the data now includes all of Madison County.
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The Charts
Chart shows the number of Residential homes sold in each month along with the average Days On the Market for those properties.
I like to put Median and Average prices together. The main number to watch is the Median Price. It is the better indicator of what price homes are selling for.
This is a good indicator of supply and demand since it included the number of homes sold. As you can see the inventory has been growing fairly steadily.
The more inventory the more it is a buyers market. Less inventory it becomes more of a sellers market. Of course all factors must be considered and you should not just rely on one set of numbers.
This chart is a duplication but I like the way it is laid out. You can see the number of sales each year for each month making it easy to see differences in the past few years.
The Trend Line is important. It averages over the previous 3 months of data and helps to allow for the spikes and dips and shows what I think is a more accurate trend. It is the thin black line at the top of the bars in the graph. It is more important than any single months data.
The data is current as of the day of writing. Each month there seems to be a very slight change in the previous months sales data. Probably because of someone putting in data late. In order to keep the newsletter timely we have decided not to wait till later in the month but to update the previous months sales data. Please keep this in mind when using the data.
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