Third Monday Market Update

 

Another slight increase in the number of listings has raised our Absorption Rate. At the same time, we have seen a slight rise in the number of properties that have sold, as well as the number that are under contract. The "Summer Season" has not started yet, but it seems that a few more people have begun the early stages of looking at real estate in our area.

 

Regards,

 

 

Marc White
Marketing Specialist, ABR, GRI, ePro
Broker/REALTOR, Top 10 Listing Agent for 2009
Direct 828-406-2134
Marc@CedarFallsRealty.com
Make sure your REALTOR is RE-MARC-ABLE!

 

 

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First Monday High Country Market Update

Home sales continue to stay slightly heightened. We just passed our year-to-date figures for 2009. This is a great sign for the slow recovery we are expecting. While our sales are up, and under contracts are also holding steady, we have another slight increase in the number of active listings. The slight increase has raised our current Absorption Rate. Prices seem to be holding steady, but that has more to do with sales slowly increasing for more expensive homes than it does for the market prices. We have seen that most sales are from homes that have given price incentives for buyers.

 

Regards,

 

 

Marc White
Marketing Specialist, ABR, GRI, ePro
Broker/REALTOR, Top 10 Listing Agent for 2009
Direct 828-406-2134
Marc@CedarFallsRealty.com
Make sure your REALTOR is RE-MARC-ABLE!

 

 

Third Monday Market Updates

 

Over the past week, home sales have increased; and because of this, the number of homes under contract went down just a little. Traffic has been picking up over the past several weeks, and we anticipate this will continue as we head into the summer. The Absorption Rate numbers are slightly higher than two weeks ago, but are right on track with the same time last year.

 

Regards,

 

 

Marc White
Marketing Specialist, ABR, GRI, ePro
Broker/REALTOR, Top 10 Listing Agent for 2009
Direct 828-406-2134
Marc@CedarFallsRealty.com
Make sure your REALTOR is RE-MARC-ABLE!

 

 

First Monday (Wednesday) Market Update

I first want to start and apologize for the tardiness of this update. Over the weekend, my wife and I moved our home. Now that the weekend is over, everything is back to normal. Thank you for understanding.

 

The number of properties that are under contract continue to rise. Normally, we see a lull in the market between Easter and Memorial Day, but this year we have seen tremendous traffic during this time. Some of this was built up energy from the long winter, and others were looking to take advantage of the tax credit. We still see signs of the market growing very slowly.

 

Until summer gets into full swing, which will be shortly, we will not have a great gauge on the market for this year. The greatest indicators so far this year is the number of properties under contract. Currently, there are 103 homes under contract that are listed for less than $400,000. There are only 17 priced higher than $400,000. Also, only 1 house is under contract above $700,000. This is not abnormal; the higher price market usually begins in the middle of summer and continues through fall.

 

 

Regards,

 

 

Marc White
Marketing Specialist, ABR, GRI, ePro
Broker/REALTOR, Top 10 Listing Agent for 2009
Direct 828-406-2134
Marc@CedarFallsRealty.com
Make sure your REALTOR is RE-MARC-ABLE!

 

 

Third Monday Market Update

The DOW is up, the confidence in our economy is rising, but our market has not quite caught on this two factors. Prices have not cleared the bottom yet, but average prices seem to be holding steady for now. So, what do the economic experts say is going to happen over the next few months.

 

Two Fronts
By most measures the economy is on the mend. Does that mean housing is as well? In his commentary this month NAR Chief Economist Lawrence Yun says the answer depends on two potentially big support factors: Jobs and Confidence. (NAR, Real Estate Insights April 2010)

 

While Mr. Yun seems to have been correct predicting our depression, he does not seem to be clear on when we are going to start a - nation wide - growth out of the mess. Many other economist agree with Mr. Yun, we will begin to grow (economy) when our consumer confidence starts to rise and more jobs are provided to the unemployed.

 

Regards,

 

 

Marc White
Marketing Specialist, ABR, GRI, ePro
Broker/REALTOR, Top 10 Listing Agent for 2009
Direct 828-406-2134
Marc@CedarFallsRealty.com
Make sure your REALTOR is RE-MARC-ABLE!

 

 

First Monday Market Update

Spring is fast approach the High Country; we started to see tree's budding. With high expectations from many people over the Home Buyers Tax Credit, we have yet to see a major jump in the number of properties under contract.

 

We still have a less than a month left until the Home Buyers Tax Credit time frame comes due. Buyers have to be under contract before May 1, 2010 to take advantage of the tax credits (and they have to close before July 1, 2010).

 

For homes under $300,000 (and maybe even a few over $300,000) it is imperative to stand out in the large crowd. Homes that are over $400,000 are in a very difficult market at the current time. Most of our seasonal buyers have not started looking this year, and probably wont until June or July.

 

 

Regards,

 

 

Marc White
Marketing Specialist, ABR, GRI, ePro
Broker/REALTOR, Top 10 Listing Agent for 2009
Direct 828-406-2134
Marc@CedarFallsRealty.com
Make sure your REALTOR is RE-MARC-ABLE!