Today a gentleman and his son walked into my office to sell an acre of land they own, that has an astounding view. Being from another state they were not aware of the current state of our market. Prices have been fairly stable through all of this madness (ie the Recession), but our inventory numbers have skyrocked since last summer. While recently we have seen glimpses of hope, our market has continued to fight off the recession. With close to the highest inventory numbers we have ever seen in our market, prices should be at there lowest. What is becoming a great time for Buyers, is becoming a worse and worse for Sellers.
While it may seem the worse is over, which statistics indicate, prices may* fall every so slightly more over the next month. After that, our market should be growing back to full swing. Be waiting for the new statistics that are posted on the First and Third Monday of each month.
* Prices have stayed fairly constant for most of our market, will a few dips in the price of new construction and the very few foreclosures.
Thank you for your time,
Marc White
Marketing Specialist
828-406-2134
Marc@CedarFallsRealty.com
Sent from my Verizon Wireless BlackBerry
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