Thursday, November 8, 2007

Fletcher Heights Area Market Review

Here's a couple of charts which show the activity levels in the Fletcher Heights area. My guess is that your neighborhood's charts would look very similar – the price points and actual numbers will vary, but the trends would not...

In an area encompassing more than 5,200 homes, only 29 have sold in the last two months...
77% of all sales in the last 6 months have been less than $325,000. Only 10 sales in the last 6 months have been greater than $400,000.
195 homes are actively for sale. The trends per price range match the sales numbers in direction, but not in proportion.
Notice the correlation between how fast homes are selling and the price ranges!

If you're trying to sell a home in the lower price ranges, there are buyers out there. Make sure your home is in perfect condition & at or near the bottom of the price range of your competition, and you should be ok.

If you're trying to sell a home at the higher price ranges, this is an extremely difficult market. Your home may be absolutely perfect – large home, great lot, beautifully appointed, and reasonably priced. But there have only been 6 buyers in the last 6 months above $475,000, and there are 33 homes to choose from. Yikes!

Your hoping things change soon Realtor,

Chris Butterworth

[tags] Fletcher Heights, Market Review, Absorption Rate, Months Inventory, [/tags]