According to the Carolina MLS, the latest year-to-date stats for Union County, NC through April 8, 2009 are 446 single family homes sold with an average list price of $268,527 vs. sale price of $255,392. That’s a 95.1% list to sale ratio. This time last year for the same period, we had 651 single-family home sales with an average list price of $295,317 vs. sale price of $285,777. That is a 96.8% list to sale ratio. So for the county the average “sold” price is minus 10.6% to last year and the unit sales are down 31.5%.
Now for the current weekending period of April 10, 2009 the number of homes sold in Union County was 23 vs. last year of 45. The average sold price this year was $244,677 to list price of $250,880. Last year it was a sold price of $297,161 to a list price of $305,654.
I know that’s a lot of numbers, but I recently did a month’s supply of single family homes for month ending March 31, 2009. It came out to 17.8 months in Union County. I checked the Carolina MLS for this past week, there were 157 price changes during the week. A few (very few) were up. Most were down.
I said all that to say this, right now is the time of year for selling your home. You will usually have more potential buyers come through your house during the first thirty days after listing. If you truly want to sell your property, price it to sell from the get go. Don’t say we can look at it in 30 to 45 days and if need be make a price reduction. You’ve wasted a lot of time and maybe even a sale. If you are buying a home on the other side, you will be in a better position to take advantage of the market (it is a strong buyer’s market) and these interest rates. They won’t stay low forever.
There was a time when a seller could put a home on the market, price it a little higher, and maybe even have multiple offers. Maybe those days will return someday, but except for a very few, those days are gone. At least for now!
This information may be subject to errors and should be verified by the user.
No comments:
Post a Comment