The market has been improving in our area over the past month. While we are not on par with the volumes of 2008, our sales to listing ratio has improved slightly from 29.47% ytd 2008 to 30.32% ytd 2009. That means that a little better than 3 in 10 listings are selling. That is far better than January where at 10.53%, only a little better than 1 in 10 listings were selling.
The continued low interest rates are helping to make buying attractive to the first time buyers. We have not seen genral price reductions that were anticipated in our market. We are seeing some deals where the seller is disposing of a second home.
Sellers should be confident that intelligent pricing which is pricing in the market and not on the market, will get your home sold in the shortest time. If you are selling to move to another home in the same market, your percentage price reduction on sale should follow to your purchase. With confidence returnig to the economy, there should be a return to price stability.
Now is a good time to buy.