We buy houses — January starts slow
As is usually the case, January was a slow month for single family house sales. A dismal 78 houses sold in January, making this the slowest month since January of 2009. The average selling price was $182,000, and the average dollars per square foot was $94. We currently have 1218 houses for sale in the county, which equates to 15 months worth of inventory. It is interesting to note that the average price of the houses for sale is $289,000…over $100,000 more than the average price of those houses that sold. This means that we have a lot of high-priced inventory that is going nowhere.
The average “days on market” for the houses that did sell was 142. But note that 21 of the houses that sold moved in less than 30 days. That tells me that there are still bargain hunters out there snapping up the good deals. You CAN sell your house in this market…if you are willing to price it right.
239 houses came to the market in January, and 131 came “back on market”, meaning they had been under contract and the deal died. This continues the trend of more deals dying than closing…depressing.
I just got back from a conference of real estate investors from around the country. It’s always interesting to hear what is going on in other markets. For instance, in Sacramento, CA, the market dropped a stunning 19% in 2011 alone. On the other hand, Denver is booming, with only 2 months of inventory on the market, and a rising tide in prices and rents. Closer to home, in Sarasota (a county only twice the size of ours), one local builder built 450 new houses last year! Hopefully that trend will move north soon, and we will see our construction industry get back to business.
Do you need to sell your house?
Even in this slow market, I am still buying houses. If you are one of those folks that has been trying to sell and just can’t get your house moved, or are thinking of selling, give me a call. I have cash and can close quickly, or when ever you want. I normally pay all closing costs. I can make the house selling process quick and easy for you. Give me a call at 763-7355, and get your house SOLD!