Thursday, January 14, 2010
Dyersburg real estate market conditions for 2009 vs 2008
As I promised about 3-4 weeks ago, here are the numbers for the Dyersburg Real Estate Market. First of all, I will compare 2009 single family residential for Dyersburg and Dyer County with the same period in 2008.
Quantity of Units Sold 223 in 2009 vs 291 in 2008 (which is a decrease of 23%)
Volume Sold $22,547,883 in 2009 vs $32,169,779 in 2008 (which is a decrease of 30%)
Average Sales Price $101,111 in 2009 vs $110,549 in 2008 (which is a decrease of 9%)
Quantity Active 690 in 2009 vs 849 in 2008 (which is a decrease of 19%)
Based on all these numbers it appears that the Dyersburg Real Estate Market is still on the decline but since all my agents are really busy with clients I decided to pull the numbers for Dec 2009 vs Dec 2010.
Quantity of Units Sold 14 in Dec 2009 vs 11 in 2008 (which is an increase of 27%)
Average Sales Price $124,326 in Dec 2009 vs $98,877 in Dec 2008 (which is a increase of 26%)
Quantity Active 254 in 2009 vs 302 in 2008 (which is a decrease of 16%) actually this is good!
Based on December 09 numbers, I would say that our market has begun to turn the corner but I thought that last year in July when I did a post about the market. Also what might be driving the numbers is the first time home buyer tax credit and also the other home buyer tax credit. We did a post about those earlier. I will be able I think to confirm a continued turn around when I again pull the numbers on Feb 1, 2010 so please come back to see the results!
Quantity of Units Sold 223 in 2009 vs 291 in 2008 (which is a decrease of 23%)
Volume Sold $22,547,883 in 2009 vs $32,169,779 in 2008 (which is a decrease of 30%)
Average Sales Price $101,111 in 2009 vs $110,549 in 2008 (which is a decrease of 9%)
Quantity Active 690 in 2009 vs 849 in 2008 (which is a decrease of 19%)
Based on all these numbers it appears that the Dyersburg Real Estate Market is still on the decline but since all my agents are really busy with clients I decided to pull the numbers for Dec 2009 vs Dec 2010.
Quantity of Units Sold 14 in Dec 2009 vs 11 in 2008 (which is an increase of 27%)
Average Sales Price $124,326 in Dec 2009 vs $98,877 in Dec 2008 (which is a increase of 26%)
Quantity Active 254 in 2009 vs 302 in 2008 (which is a decrease of 16%) actually this is good!
Based on December 09 numbers, I would say that our market has begun to turn the corner but I thought that last year in July when I did a post about the market. Also what might be driving the numbers is the first time home buyer tax credit and also the other home buyer tax credit. We did a post about those earlier. I will be able I think to confirm a continued turn around when I again pull the numbers on Feb 1, 2010 so please come back to see the results!
Labels: Dyersburg real estate market
Monday, November 16, 2009
Dyersburg real estate market conditions
Today is November 16, 2009 and here is what's happening in our market.
Up until about 3 weeks ago, first time home buyers were scrambling to get their contracts signed and houses closed. Now,those first time home buyers have more time to get this done and many are now back on the fence but still looking for great deals.
The biggest sector for sales right now is with investors. We are still seeing a lot of foreclosures and when these properties hit the market investors are stepping up to purchase. Many of these are initially trying to flip these properties but most end up in the rental market. This trend has softened the demand for rentals right now driving down the monthly rental amounts.
We are still seeing people relocating in with jobs but most of these still have a house to sell back home. Most if not all of these are renting until their houses back home sell.
I told a potential client this morning that I can sell his 2 houses but he will be competing with these foreclosure houses and this means at a much lower sales price. He chose to wait and just rent out his properties.
There are some great deals right now in our market and if you enlist the right Realtor to help you, you can beat these investors and real estate agents at their own game.
Up until about 3 weeks ago, first time home buyers were scrambling to get their contracts signed and houses closed. Now,those first time home buyers have more time to get this done and many are now back on the fence but still looking for great deals.
The biggest sector for sales right now is with investors. We are still seeing a lot of foreclosures and when these properties hit the market investors are stepping up to purchase. Many of these are initially trying to flip these properties but most end up in the rental market. This trend has softened the demand for rentals right now driving down the monthly rental amounts.
We are still seeing people relocating in with jobs but most of these still have a house to sell back home. Most if not all of these are renting until their houses back home sell.
I told a potential client this morning that I can sell his 2 houses but he will be competing with these foreclosure houses and this means at a much lower sales price. He chose to wait and just rent out his properties.
There are some great deals right now in our market and if you enlist the right Realtor to help you, you can beat these investors and real estate agents at their own game.
Labels: Dyersburg real estate market
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