Ya, that's the headlines this morning on MSN, but remember all real estate markets are local. So what is going on in Ravalli County. Well, in the month of June we did see our first month with an increase in the number of sales from 2008, but that is about the only increase that we say. For the first half of 2009 the number of residential sales in down 20%, our median sales price has dropped 14% and our inventories are declining with 18% less new listings than a year ago.
What does all this mean to you!
If you are a seller it means continued patience is required, sorry! There are still over 896 active residential listings in Ravalli County and our Days on Market is now up to 202, but yes we are seeing increased activity. We are continuing to see sales with the First Time HomeBuyers but we are also starting to see activity in the $300,000 to $400,000 range.
If you are a buyer it means it is a great time to buy!! Prices are coming down, interest rates are great and there are a lot of motivated sellers on the market. You take that and add if you are a First Time Home-Buyer the $8,000 tax credit, (Has to be used before November 30th) and you are all set to buy your new home.
Thursday, July 23, 2009
Subscribe to:
Posts (Atom)
Posts
