September Home Sales

Typically, the housing market begins to slow down during these autumn days.  In September, we did see a little slow down in the market, in terms of houses sold.  Listings, however are actually up a little.  It continues to be a buyers market and even in Westmorland, Sunset Village and the Dudgeon-Monroe neighborhoods, where we have seen the housing market fairly stable, the inventory outweighs the buyers writing offers.

For instance, during September, there were six homes that sold in those three neighborhoods, but there are currently 36 homes on the market.  On average, those homes have been on the market 96 days.  Using these figures it appears there is 16 months worth of housing inventory currently on the market.  Not great if you are a seller.  Awesome news if you are a buyer.  And even better if you are a buyer without a house to sell!

What has happened in the last eight to six weeks to slow down the sales?  A couple of things.  Interest rates have dropped again.  Many potential buyers (a couple of my clients included) have decided to refinance and see what the spring market brings.  County, city and state budget are also in the works.  Those government employees continue to be in a holding pattern until they are comfortable with how everything shakes out.

If you are a seller, price will continue to be a driving force in how long it takes to sell your home.  The condition of your home will also be a factor.  The better it looks (and inspects) the better your chances of a successful sale.

Here's what happened in September:

Sunset Village Home Sales-September

Address	1st Price	Last Price	Sold Price	SP/FP	SP/LP	Cum. Days of Market	# Days From Last Price Change Until Offer
509 N. Owen	$229,900	$229,900	$227,00	99%	99%	15	15
Average Total	$229,900	$229,900	$227,00	99%	99%	15	15

Westmorland Home Sales-September

Address	1st Price	Last Price	Sold Price	SP/FP	SP/LP	Cum. Days of Market	# Days From Last Price Change Until Offer
4305 Keating Terr	$235,500	$235,500	$229,000	97%	97%	35	35
4121 Paunack Ave.	$279,000	$279,900	$275,000	98%	98%	4	4
442 Holly Ave.	$309,900	$309,900	$309,900	100%	100%	2	2
Average Total	$275,100	$275,100	$271,300	98%	98%	14	13.6

Dudgeon-Monroe Home Sales-September

Address	1st Price	Last Price	Sold Price	SP/FP	SP/LP	Cum. Days of Market	# Days From Last Price Change Until Offer
2106 Monroe St.	$274,900	$264,900	$252,100	92%	95%	153	49
2226 Fox Ave.	$350,000	$350,000	$310,000	89%	89%	36	36
Average Total	$312,450	$307,450	$281,050	90%	92%	95	42.5