Property showings have increased over the last week and a half, and during that same time frame, the number of properties Under Contract have reduced a little bit. The Absorption Rate for residential listings increased slightly in the last two week, while the overall listings and land listings both reduced. Our year-to-date sales figures still remain about 20% ahead of last year (and 2009).
Sellers who are the most desperate (and have room to reduce their prices dramatically) are the ones who are having the opportunities to sell. Buyers are mostly thinking that this is the time to get properties for 50 cents on the dollar. The media outlets around our country are not helping this belief system. They report the sale of a 3 bedroom, 2 bath house and 1800 square feet for only $53,000; and buyers believe there is property up here that would sale for the same price. It has been very tough on buyer’s agents to explain to their clients that our market (statistically) is not struggling like the rest of the country.
I continue to stay optimistic about our market, we are seeing more buyers viewing properties and more offers being made that either of the last two years. This needs to be the continued trend or our market will lower in value a little more. As for our myself, it has been a great start to the year, and anticipate a stronger summer and fall than we have had in three years.
Marketing Specialist, ABR, GRI, ePro
Broker/REALTOR, Top Listing Agent for 2009 & 2010
Direct 828-406-2134
Marc@CedarFallsRealty.com
Make sure your REALTOR is RE-MARC-ABLE!
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