With the tax credit over and most of the deals closed out we have a better idea of the market trends right now. Brightmoor subdivison in Matthews, NC. has seen the trends of market pricing change with the economy:
Currently there are 16 homes currently active on the market in Brightmoor. The average asking price is $212,156. there are 2 homes pending to be closed.
In 2010 there have been 5 homes sold for an average sale price of $179,800. They have been on the market for an average of 135 days.
In 2009 13 homes sold for an average sale price of $193,654. They averaged 77 days on the market.
In 2008 16 homes sold with an average sale price of $221,534. They averaged 39 days on the market.
As you can see the trends are on a downward cycle and the average days on the market on an upward cycle. these numbers are indicating of a buyer's market right now. Based on the amount of homes that sold and average out the last two years you still have over a year supply on the market right now. An ideal situation si a six month supply. Anything less than that favors the seller and more than that favors the buyer. By how much is determined by how far from the six months the number is.
Dave diCecco
Realtor/Broker
www.davedicecco.com
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