Here is a chart that shows the trend noted earlier regarding homes sales v. median price. Median sales price for June '09 in Forsyth County was approximately $135,000 (down $40,000 from 24 months ago). While this chart is Forsyth County specific, Forsyth County is pretty indicative of what is happening in surrounding counties as well.
What does this mean? Homes are selling, but price is key. The less expensive the home, the more likely it is to sell.
Showing posts with label median. Show all posts
Showing posts with label median. Show all posts
Thursday, August 13, 2009
Wednesday, August 5, 2009
Are Home Sales Up?
According to national statistics, home sales are up. This will prompt sellers to ask, "why should we reduce our price if sales are up?" Just as with any statistic, there are 2 sides to this story. Home sales are up, but home prices aren't. "Sales" refers to units and does not take into account median sales price. Please keep this is mind as you price your home. Yes, homes are selling... but the median sales price is going down. So, the higher you price, the less chance you have to sell -- and isn't selling the goal?
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