Price Point is KEY

From SteveHarney.com:

"There is much discussion about how the real estate market is in the middle of its turnaround based on sales increasing on a year-over-year basis. Though the fact that housing is again moving is fabulous news, let's not lose sight of which homes are selling.

Here is a closer look at different price ranges and how they are faring in the current "boom":

$0-100,000 sales up 38.8%
$100,000-250,000 sales up 8.7%
$250,000-500,000 sales down 6.2%
$500,000-750,000 sales down 8.9%
$750,000-1,000,000 sales down 10.6%
$1,000,000-2,000,000 sales down 23.3%
$2,000,000+ sales down 32.4%"

Moral of the story?? Units may be up, but lower priced properties are selling quicker... so pricing is KEY!

Are Home Sales Up? -- part 2

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.

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?