Heather Jackman
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For Further Details Contact: Heather Jackman Coldwell Banker Hearthside 215.493.9080 x119 215.431.0884 cell RL#RS292094 Lic in PA & NJ # 1006608
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Hearthside 70 West Afton Ave Yardley PA 19067
215.493.9080 X119 Call me to find out why now is a gret time to buy or sell a home. I’ll provide you with a complimentary market analysis of current sales listings in your neighborhood. I’ll also show you my state of the art marketing plan that will enable you to receive top dollar for your home in today’s challenging market place. I am ready to go to work for you and prove that knowledge, honesty, and integrity will result in a positive and successful transaction.
If your property is currrently listed with a real estate broker, please disregard. It is not my intention to solicit the offerings of other real estate brokers.
DOYLESTOWN TOWNSHIP f
SINGLE FAMILY HOMES
Market Facts as of AUGUST YTD 2010 ______________ Source: COLDWELL BA KER HEARTHSIDE REALTORS MARKET RESEARCH from TRE D MLS Data
Inventory of homes for sale in Aug 2010 was 132 Inventory of homes for sale in July 2010 was 128 Inventory of homes for sale in Aug 2009 was 115 Unit Inventory is up 14.8% year over year, And up 4 homes (3%) sequentially from July 2010 Avg. price of a home for sale in Aug 2010 was $527k Avg. price of a home for sale in Aug 2009 was $554k List prices of homes in inventory are down 4.9% 80 homes sold as of Aug YTD 2009 at 91% of list price 95 homes sold as of Aug YTD 2010 at 91% of list price Unit Sales volume is up 18.8% year over year, contrasted with Full Year 2009 Unit Sales which were up 18.4% Buyers achieving approx 9% avg. discount from List Price Summary: Inventory levels are up and YTD unit sales volume is moderately up. Average Sold Prices for the Full Year 2007 were down 5.9%, Full Year 2008 Average Sold Prices were near flat at a 0.2% decrease and 2009 reflected an 8.2% Price decrease, YTD 2010 trend indicates a modest 0.2% increase. Buyers continue to achieve “discount” leverage in negotiation, at a consistent spread versus last year. At current sales pace there is a 10.6 Month Supply of Homes in Inventory. Note that a Market is viewed as “Balanced” between Buyers/Sellers, with 6 Months of Homes in Inventory.
What does this mean to a Seller? There is a 10+ Month Supply of homes on the market, generally for longer periods of time, so the competition remains challenging. Average Days on Market is 96 days versus 89 last year. It is more important now than ever to price your home right and market aggressively. Be realistic and remember the current market is what determines the price of your home.
BUCKINGHAM TOWNSHIP f
SINGLE FAMILY HOMES
Market Facts as of AUGUST YTD 2010 ______________ Source: COLDWELL BA KER HEARTHSIDE REALTORS MARKET RESEARCH from TRE D MLS Data
Inventory of homes for sale in Aug 2010 was 251 Inventory of homes for sale in July 2010 was 240 Inventory of homes for sale in Aug 2009 was 255 Unit Inventory is down 1.6% year over year, And up 11 homes (5%) sequentially from July 2010
Avg. price of a home for sale in Aug 2010 was $752k Avg. price of a home for sale in Aug 2009 was $777k List prices of homes in inventory are down 3.1%, the avg. price stat is impacted by # of unsold homes priced $1-2 million, ~$182k difference between Avg. Sold versus Avg. Inventory Price
111 homes sold as of Aug 2009 at 91% of list price 150 homes sold as of Aug 2010 at 92% of list price Unit Sales volume is up 35.1% year over year, contrasted with Full Year 2009 Unit Sales which were down 14.7% Buyers achieving approx 8% avg. discount from List Price Summary: Inventory levels are down and YTD sales volume is up noticeably. The Average Sold Price for the Full Year 2006 was up 5.2%, Full Year 2007 was a more modest 1.7% increase, Full Year 2008 Prices reflected a 2.9% decrease, Full Year 2009 reflected a 16.1% Price decrease, YTD 2010 trend indicates a 13.9% increase (likely driven by increased sales of higher priced homes). Buyers continue to achieve “discount” leverage in negotiation – though the spread is narrowing (1% point) versus last year. At current sales pace there is a 14.1 Month Supply of Homes in Inventory, a clear “Buyers Market”. Note that a Market is viewed as “Balanced” between Buyers & Sellers, with 6 Months of Homes in Inventory.
What does this mean to a Seller? There is a 14+ Month Supply of homes on the market, generally for longer periods of time, so the competition remains challenging. Average Days on Market is 107 versus 93 last year. During 2009, most (85%) of the homes sold closed at prices under $650k. Currently, 19% of the homes (47/251) on the market are priced above $1 million, this represents an 11.7 Year Supply at current sales pace (4/year). It is more important now than ever to price your home right and market aggressively. Be realistic and remember the current market is what determines the price of your home.
www.HeatherJackman.com
LOWER MAKEFIELD TOWNSHIP b
SINGLE FAMILY HOMES
Market Facts as of AUGUST YTD 2010 ______________ Source: COLDWELL BA KER HEARTHSIDE REALTORS MARKET RESEARCH from TRE D MLS Data
Inventory of homes for sale in Aug 2010 was 222 Inventory of homes for sale in July 2010 was 223 Inventory of homes for sale in Aug 2009 was 221 Unit Inventory is essentially flat year over year, And down 1 home sequentially from July 2010 Avg. price of a home for sale in Aug 2010 was $528k Avg. price of a home for sale in Aug 2009 was $513k List prices of homes in inventory up 2.9% 167 homes sold as of Aug YTD 2009 at 91% of list price 226 homes sold as of Aug YTD 2010 at 93% of list price Unit Sales volume is up 35.3% year over year, contrasted with Full Year 2009 Unit Sales which were up 1.6% Buyers achieving approx 7% avg. discount from List Price Summary: For trend-line reference, Full Year 07 Unit Growth was 6.5%, Full Year 08 Sales recorded a lower (-33.5%) result, Full Year 09 turned modestly positive at 1.6%, while YTD 2010 is +35.3%. Inventory is at an 8.5 Month supply of homes. The Average Sold Price for the Full Year 2006 was a modest 3.6% increase, Full Year 2007 reflected a 6.4% decrease, Full Year 2008 recorded a 3.1% increase and Full Year 09 reflected a 6.7% Price decrease, YTD 2010 trend indicates an 8.5% decrease. Buyers are achieving “discount” leverage in negotiation – though the spread is narrowing (2% points) versus last year. Market conditions are considered above “Balanced”, favoring the Buyer, with 8.5 Months of Homes in Inventory (Note: a Market is considered “balanced” with 6 Months Inventory).
What does this mean to a Seller? There is an 8+ Month Supply of homes on the market, generally, for noteworthy periods of time (Average Days on Market are now 76) so competition remains challenging. It is more important now than ever to price your home right and market aggressively. You may not have enjoyed the per year appreciation in 20062009 versus the ~10+% experienced during the prior 4-5 years. Be realistic and remember the current market is what determines the price of your home.
NEWTOWN TOWNSHIP f
SINGLE FAMILY HOMES
Market Facts as of AUGUST YTD 2010 ______________ Source: COLDWELL BA KER HEARTHSIDE REALTORS MARKET RESEARCH from TRE D MLS Data
Inventory of homes for sale in Aug 2010 was 137 Inventory of homes for sale in July 2010 was 146 Inventory of homes for sale in Aug 2009 was 127 Unit Inventory is up 7.9% year over year, And down 9 homes (6%) sequentially from July 2010 Avg. price of a home for sale in Aug 2010 was $470k Avg. price of a home for sale in Aug 2009 was $466k List prices of homes in inventory are near flat, up 0.9% 148 homes sold as of Aug YTD 2009 at 93% of list price 153 homes sold as of Aug YTD 2010 at 95% of list price Unit Sales volume is up 3.4% year over year, contrasted with Full Year 2009 Unit Sales which were down 3% Buyers achieving approx 5% avg. discount from List Price Summary: Inventory levels are up and sales volume is positive. The Average Sold Price for the full year 2006 was a 10.9% increase, 2007 pricing was near flat at -0.1%, Full year 2008 Average Sold Prices reflected a 2.4% decrease and 2009 reflected a 3.7% Price decrease, YTD 2010 trend indicates a 2.9% decrease. Buyers still achieving “discount” leverage in negotiation – though the spread is narrowing (2% points) versus last year. Market conditions are near balanced with 7.2 Months of Homes in Inventory. Note that a Market is viewed as “Balanced” between Buyers & Sellers with ~6 Months Inventory.
What does this mean to a Seller? There is a 7+ Month Supply of homes on the market, generally taking about 51 Average Days on Market to sell, so the competitive conditions are relatively challenging. It is more important now than ever to price your home right and market aggressively. You may not have enjoyed the per year appreciation in 2007-2009 versus the ~10% experienced during most of the prior 3-4 years. Be realistic and remember the current market is what determines the price of your home.
www.HeatherJackman.com
www.HeatherJackman.com
MARKET STATISTICS for PRINCIPAL MARKETS ($ in 1,000s) SINGLE FAMILY (ex Condos) 2010
YEAR-TO-DATE
Source: COLDWELL BANKER HEARTHSIDE R Prior Full Yr
YTD
YTD
12 Mo
Sold
Sold
Price
Avg
Avg Price 2009
Avg Price
Change % DOM Sold/List Sales
2010
LMT
$462
$424
-8.5%
76
93%
$
Morrisville
$186
$170
-5.5%
104
90%
Newtown
$386
$380
-2.9%
51
95%
$
UMT
$762
$867
7.4%
120
90%
$
Solebury
$788
$613
-28.0%
113
91%
$
Buckingham
$501
$570
13.9%
107
92%
$
Northampton
$389
$406
2.2%
66
94%
$
Doylestown
$414
$420
0.2%
96
91%
$
Bucks Cty
$329
$345
3.5%
86
92%
$1,1
2008 Full Yr
2009
LMT
$495
$463
78
91%
$
Morrisville
$209
$180
77
90%
$
Newtown
$401
$391
62
93%
$
UMT
$791
$807
116
87%
$
Solebury
$763
$852
128
87%
$
Buckingham
$597
$500
93
91%
$
Northampton
$432
$397
80
92%
$
Doylestown
$451
$419
89
91%
$
Bucks Cty
$353
$334
84
92%
$1,0
2009
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E AUGUST 2010 versus 2009
REALTORS MARKET RESEARCH from TREND MLS DATA Prior $ (k)
See Notes
Full Yr YTD
Yr over Yr % Change INVENTORY
Units
Sales $ %
2009
Units
Unit %
Units
below
Change Months
Avg Price Change
2010
$95,859
255
226
23.9%
35.3%
222
0.5%
8.5
$528
2.9%
$6,124
100
36
-46.8%
-43.8%
97
14.1%
16.2
$207
-4.4%
$58,107
224
153
0.4%
3.4%
137
7.9%
7.2
$470
0.9%
$59,808
72
69
54.5%
43.8%
146
10.6%
18.8
$1,191
-8.6%
$45,367
93
74
-6.5%
29.8%
174
2.4%
19.0
$1,317
6.6%
$85,485
174
150
53.9%
35.1%
251
-1.6%
14.1
$752
-3.1%
$90,066
287
222
15.1%
12.7%
261
4.4%
10.0
$514
-3.3%
$39,876
135
95
19.0%
18.8%
132
14.8%
10.6
$527
-4.9%
121,825
4812
3250
8.9%
5.2%
4716
6.5%
11.4
$474
-4.5%
2008
2009
$77,382
251
167
221
10.4
$513
$11,516
74
64
85
10.2
$217
$57,860
231
148
127
6.8
$466
$38,722
71
48
132
22.0
$1,303
$48,539
78
57
170
21.9
$1,235
$55,554
204
111
255
17.6
$777
$78,220
278
197
250
10.5
$532
$33,513
114
80
115
10.2
$554
030,481
4806
3089
4430
11.0
$496
Absorption Methods: 2010 Uses Rolling 12 Mo Average Unit Sales 2009 Uses Full Year Sales
MARKET STATISTICS for SELECTED MARKETS in LOWER & UPPER BUC SINGLE FAMILY (ex Condos)
YEAR-TO-DATE A
2010
Source: COLDWELL BANKER HEART
($ in 1,000s) Prior Full Yr Sold Avg Price 2009
YTD
YTD
12 Mo
Sold
Price
Avg
Avg Price Change %
DOM Sold/List Sales $ (k
2010
UPPER BUCKS Plumstead
$385
$392
-0.4%
99
92%
$27,
N Hope Boro
$456
$532
23.8%
185
91%
$10,
Doyle Boro
$357
$378
8.2%
105
92%
$14,
Bedminster
$388
$356
-11.0%
87
93%
$15,
Tinicum
$553
$506
8.1%
153
88%
$9,
Springfield
$400
$405
-12.0%
92
89%
$6,
Wrightstown
$580
$905
48.7%
116
90%
$14,
Middletown
$288
$310
6.5%
79
93%
$64,
L.Southamp
$267
$259
-1.5%
65
93%
$20,
Falls
$232
$235
0.4%
54
94%
$32,
Bucks Cty
$329
$345
3.5%
86
92%
$1,121,
2008 Full Yr
2009
LOWER BUCKS
2009 UPPER BUCKS Plumstead
$420
$394
90
91%
$27,
N Hope Boro
$620
$430
117
90%
$7,
Doyle Boro
$455
$349
89
88%
$14,
Bedminster
$436
$400
94
92%
$11,
Tinicum
$566
$468
185
80%
$9,
Springfield
$523
$460
128
88%
$8,
Wrightstown
$564
$609
124
89%
$12,
Middletown
$304
$291
74
93%
$59,
L.Southamp
$273
$263
76
92%
$22,
Falls
$247
$234
69
94%
$34,
Bucks Cty
$353
$334
84
92%
$1,030,
LOWER BUCKS
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CKS
AUGUST 2010 versus 2009
THSIDE REALTORS MARKET RESEARCH from TREND MLS Data
k)
Prior Full Yr YTD
Yr over Yr % Change INVENTORY
Units
Sales $ % Unit %
2009
Units
Units
See notes below
Change Months
Avg Price
Change
2010
,451
97
70
-1.8%
-1.4%
139
13.0%
17.4
$613
-3.0%
,644
23
20
45.7%
17.6%
39
-9.3%
18.0
$606
-14.7%
,725
72
39
0.5%
-7.1%
53
-20.9%
9.2
$613
-1.2%
,664
48
44
39.9%
57.1%
113
-0.9%
21.2
$507
-6.7%
,100
27
18
-2.7%
-10.0%
62
10.7%
29.8
$787
-2.1%
,891
34
17
-16.9%
-5.6%
73
-8.8%
26.5
$599
-1.2%
,480
30
16
13.3%
-23.8%
49
6.5%
23.5
$858
-0.2%
,809
323
209
9.7%
3.0%
247
9.8%
9.0
$338
-7.0%
,744
133
80
-6.2%
-4.8%
113
5.6%
10.5
$302
-1.9%
,901
215
140
-5.6%
-6.0%
136
51.1%
7.9
$259
1.1%
,825
4812
3250
8.9%
5.2%
4716
6.5%
11.4
$474
-4.5%
2008
2009
,964
102
71
123
15.2
$632
,308
19
17
43
22.4
$710
,654
71
42
67
11.2
$621
,198
52
28
114
28.5
$544
,356
28
20
56
24.9
$804
,288
29
18
80
28.2
$606
,779
21
21
46
18.4
$859
,094
309
203
225
8.4
$363
,120
131
84
107
9.7
$308
,865
202
149
90
5.0
$256
,481
4806
3089
4430
11.0
$496
Absorption Methods: 2010 Rolling 12 Mo Avg Units 2009 Uses Full Year Sales
UPPER MAKEFIELD TOWNSHIP SINGLE FAMILY HOMES b
Market Facts as of AUGUST YTD 2010 Source: COLDWELL BA KER HEARTHSIDE REALTORS MARKET RESEARCH from TRE D MLS Data
Inventory of homes for sale in Aug 2010 was 146 Inventory of homes for sale in July 2010 was 141 Inventory of homes for sale in Aug 2009 was 132 Inventory is up 10.6% year over year, And up 5 homes sequentially from July 2010 Avg. price of a home for sale in Aug 2010 - $1.19 million Avg. price of a home for sale in Aug 2009 - $1.30 million List prices in inventory are down 8.6%, the avg. price stat is driven by # of homes priced in $1-3+ million, review specific property CMA for pricing direction & check Median/Average Prices
48 homes sold as of Aug YTD 2009 at 87% of list price 69 homes sold as of Aug YTD 2010 at 90% of list price Unit Sales volume is up 43.8% year over year, contrasted with Full Year 2009 Unit Sales which were up 1.4% Buyers achieving approx 10% discount from List Price Summary:
Inventory levels are up and Unit Sales are up noticeably YTD. Notably, at current Sales pace there is an 18.8 Month Supply of Homes in Inventory, versus 22 Months last year. Buyers are still achieving “discount” leverage in negotiation – though the spread is narrowing (3% points) versus last year. Market is viewed as a clear “Buyers Market”. Note that a Market is viewed as “Balanced” with 6 Months of Inventory.
What does this mean to a seller? There is a substantial inventory of homes on the market (particularly in $1-3 million range), generally for longer periods of time, so the competition is challenging. Average Days on Market is 120 (all price levels). During 2009, most (82%) of the homes sold closed at prices under $999k. Currently, 47.2% of the homes (69 of 146) on the market are priced above $1 million, and this represents a 38 Month Supply at current sales pace (1.8 per month). It is more important now than ever to price your home right and market aggressively. You may not have enjoyed the positive per year appreciation in 2007/2008 that was experienced during the past few years. Be realistic and remember the current market is what determines the price of your home.
NORTHAMPTON TOWNSHIP SINGLE FAMILY HOMES
b
Market Facts as of AUGUST YTD 2010 ______________ Source: COLDWELL BA KER HEARTHSIDE REALTORS MARKET RESEARCH from TRE D MLS Data
Inventory of homes for sale in Aug 2010 was 261 Inventory of homes for sale in July 2010 was 262 Inventory of homes for sale in Aug 2009 was 250 Unit Inventory is up 4.4% year over year, And down 1 home sequentially from July 2010 Avg. price of a home for sale in Aug 2010 was $514k Avg. price of a home for sale in Aug 2009 was $532k List prices of homes in inventory are down 3.3% 197 homes sold as of Aug YTD 2009 at 92% of list price 222 homes sold as of Aug YTD 2010 at 94% of list price Unit Sales volume is up 12.7% year over year, contrasted with Full Year 2009 Unit Sales which were up 3.2% Buyers achieving approx 6% avg. discount from List Price Summary:
Inventory is up and YTD unit sales volume is moderately up. The Average Sold Price for the Full Year 2006 was up a reasonable 8.4%, Full Year 2007 reflected a decrease of 3.3%, 2008 Sold Average Prices recorded a 2.3% decrease, while 2009 Prices reflected a 9.9% decrease, YTD 2010 trend indicates a 2.2% increase. Buyers are continuing to achieve discount leverage in negotiation – though the spread is narrowing (2% points) versus last year. The Market is still considered a “Buyers Market” with 10 Months of Homes in Inventory. Note, that Market conditions are considered “Balanced” with 6 Months of Homes in Inventory.
What does this mean to a Seller? There is a 10 Month Supply of homes on the market, generally for long periods of time, so the competition remains challenging. Average Days on Market is 66 days. It is more important now than ever to price your home right and market aggressively. Be realistic and remember the current market is what determines the price of your home.
www.HeatherJackman.com
SOLEBURY TOWNSHIP SINGLE FAMILY HOMES SI b
Market Facts as of AUGUST YTD 2010 __________________________________________________________________________________________________________________ Source: COLDWELL BA KER HEARTHSIDE REALTORS MARKET RESEARCH from TRE D MLS Data
Inventory of homes for sale in Aug 2010 was 174 Inventory of homes for sale in July 2010 was 170 Inventory of homes for sale in Aug 2009 was 170 Inventory is up 2.4% year over year, And up 4 homes sequentially from July 2010 Avg. price of a home for sale in Aug 2010 - $1.32 million Avg. price of a home for sale in Aug 2009 - $1.24 million List prices in inventory are up 6.6%, the avg. price stat is impacted by # of homes priced in $1-5 million, review specific property CMA for pricing direction & Median/Average Prices
57 homes sold as of Aug YTD 2009 at 87% of list price 74 homes sold as of Aug YTD 2010 at 91% of list price Unit Sales volume up 29.8% year over year, contrasted with Full Year 2009 Unit Sales which were up 19.2% Buyers achieving approx 9% discount from List Price
Summary:
Inventory levels are up slightly and YTD Unit Sales are up substantially. At current Sales pace, there is a 19 Month Supply of Homes in Inventory. Buyers continue to achieve significant discount leverage in negotiation – though the spread is narrowing (3% points) versus last year. Market is viewed as a clear “Buyers Market”. Note that a Market is viewed as “Balanced” with 6 Months of Homes in Inventory.
What does this mean to a seller? There is a substantial inventory of homes on the market (particularly in $1-3 million range), generally for longer periods of time, so the competition is challenging. Average Days on Market is 118 (all price levels) versus 114 last year. During 2009, most (83%) of the homes sold closed at prices under $999k. Currently, 36.8% of the homes (64 of 174) on the market are priced above $1 million, and this represents a 70 Month Supply at current sales pace (0.92 per month). It is more important now than ever to price your home right and market aggressively. You may not have enjoyed the positive per year appreciation in 2007, 2008, 2009 that was experienced during the past few years. Be realistic and remember the current market is what determines
Per Year Appreciation SF Homes (ex Condos) Higher Volume Markets Source: COLDWELL BANKER HEARTHSIDE REALTORS MARKET RESEARCH from MLS data L. Makefield Twp Newtown Twp Northampton Twp Buckingham Twp Apprec Units Apprec Units Apprec Units Apprec Units 2009 Avg$ $462 $386 $389 $501 2009 -6.7% 255 -3.7% 224 -9.9% 287 -16.1% 174 2008 3.1% 251 -2.4% 231 -2.3% 278 -2.9% 204 2007 -6.4% 379 -0.1% 260 -3.3% 351 1.7% 252 2006 3.6% 355 10.9% 299 8.2% 376 5.2% 257 2005 11.6% 432 6.9% 354 8.9% 437 10.4% 329 2004 10.4% 465 12.0% 360 10.7% 457 10.6% 288 2003 11.7% 465 11.9% 344 5.5% 410 5.4% 279 2002 9.8% 427 14.5% 285 14.6% 398 15.2% 259 2001 13.5% 453 5.7% 321 15.3% 409 17.9% 239 2000 Avg$ $288 445 $229 307 $249 377 $329 279
2009 Avg$ 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 Avg$
Doylestown Twp Apprec Units $414 -8.2% -0.2% -5.9% 1.8% 14.9% 10.2% 5.8% 21.2% 9.1% $266
2009 Avg$ 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 Avg$
Bucks County Apprec Units $329 -6.8% 4812 -6.7% 4806 0.6% 6048 4.1% 6408 11.6% 7454 13.1% 7470 10.0% 6893 15.6% 6429 7.5% 6364 $209 6275
135 114 168 178 189 198 184 182 164 175
Falls Twp Middletown Twp Apprec Units Apprec Units $232 $288 -5.9% 215 -5.3% -6.4% 202 -7.9% 2.5% 284 0.4% 1.4% 282 7.5% 13.6% 280 10.0% 20.8% 304 11.8% 12.5% 269 11.7% 13.3% 279 11.9% 7.3% 237 12.5% $135 266 $176
Appreciation measured by Change in Sold Average Price year over year MLS Stats are not held beyond 2000 base year 2000 Avg$ displays Base Year Average Price for the Indicated Market 2009 Avg$ displays Average Price for the Indicated Market
323 309 347 407 427 467 406 397 366 369
Bristol Twp Apprec Units $179 -7.6% -8.4% -0.1% 5.9% 15.9% 11.3% 18.1% 13.9% 5.8% $109
501 490 561 593 738 711 629 589 601 539
Morrisville Boro Apprec Units $186 -10.9% -8.1% 1.4% 0.7% 18.6% 19.1% 9.7% 12.8% 4.9% $121
100 74 103 133 144 159 144 116 138 123
b
MORRISVILLE BORO SINGLE FAMILY HOMES
Market Facts as of AUGUST YTD 2010 _____________ Source: COLDWELL BA KER HEARTHSIDE REALTORS MARKET RESEARCH from TRE D MLS Data
Inventory of homes for sale in Aug 2010 was 97 Inventory of homes for sale in July 2010 was 92 Inventory of homes for sale in Aug 2009 was 85 Unit Inventory is up 14.1% year over year, And up 5 homes sequentially from July 2010 Avg. price of a home for sale in Aug 2010 was $207k Avg. price of a home for sale in Aug 2009 was $217k List prices of homes in inventory down 4.4% 64 homes sold as of Aug YTD 2009 at 90% of list price 36 homes sold as of Aug YTD 2010 at 90% of list price Unit Sales volume is down 43.8% year over year, contrasted with Full Year 2009 Unit Sales which were up 35.1% Buyers achieved approx 10% avg. discount from List Price Summary: Inventory levels are up and YTD sales volume is noticeably down. For trend reference: the Average Sold Price for 2007 was a modest 1.3% increase, 2008 Sold Average Prices reflected a 9.3% decrease, with 2009 reflecting a 10.9% Price decrease, YTD 2010 trend indicates a 5.5% decrease. Buyers are achieving “discount” leverage in negotiation – at a consistent spread with last year. The Market remains a “Buyers Market”, with 16.2 months of Homes in Inventory. Note that a Market is viewed as “Balanced” with approx 6 Months Inventory.
What does this mean to a Seller? There is a 16+ Month Supply of homes on the market, generally for longer periods of time (Average Days on Market is 104 versus 77 last year), so the competition remains challenging. It is more important now than ever to price your home right and market aggressively. Be realistic and remember the current market is what determines the price of your home.