Thought I would take a moment and show whats been happening in the Red Deer market lately. The graph below shows the total numbers for this year compared to last year. The numbers will be skewed a bit because not all this years listings have been decided upon but the thing that pops out to me is our failed to sell properties, failed to sell means the house was listed for at least 60 days and did not sell. Last year we had 375 failed listings with only 826 listed, 45% did not sell. Thats 54% of the homes that were listed in the first quarter of 2009 sold. 2010 numbers are not that high. If the numbers work out the way they look to me I would estimate approximately 45 to 48% will sell this year. Why? More listings priced at last years asking price. The fact is the housing prices have dropped 8-12% (depending on which price range you are in). Right now I have a 1/2 duplex listed( www.4keen.com ). We are at $227,900, last year we would have been in the $239- $245 range. Take a look at the graph below
|FAILED TO SELL||208||375|
If you have any questions on this or any other real estate issue please do not hesitate to contact me.
Thanks for reading,
Century 21 Advantage