Tuesday, July 10, 2007

Fletcher Heights Area Market Review: July 2007

I'm looking at the numbers for the first half of the year, and it's hard to get a read on them. As a whole, the Fletcher Heights Area is in pretty good shape, with an 8.1 month inventory of homes on the market: not great, but not nearly as bad as some other parts of the valley. However, it doesn't take long to see a huge division within the numbers – notice the homes on the lower end of the price range are selling relatively quickly, while those in the $475k - $550k price range have a 38-MONTH inventory! (Yes, you read that right – over 3 years' worth of inventory.) In that price range, we've had the same number of sales over the last 6 months as we had in last month's charts (4), but we've added 3 new active listings..

Here's what I'm seeing when I pull data from the last six months:

Overall the graphs don't look too bad (unless you have a house for sale in the $500k range!) Sales have been consistent, and our count of active listings has been consistent. That's better than where we were a few months ago, when sales were still trending downward and listings trending upward...

Your watching trends develop (and hoping they get better) realtor,

- Chris Butterworth

[tags] Fletcher Heights, MLS Activity [/tags]