What are prices doing in my neighborhood? Here are the September 2010 statistics.
Here is the link from RMLS for the new real estate statistics for September. Below is the chart showing months of inventory and average days on market. A healthy amount is 6 months of inventory. We are following the 2008 trend. Hopefully we don’t see 19 months of inventory in January. The link above provides much more specific data.
The average sales price for this September decreased 6.5% compared to this August. With interest rates at historic lows, many bank owned properties on the market and plenty of inventory from which to choose, this appears a great time to buy a home. Buyers don’t have much competition right now and that translates into a fantastic deal. If you want to maximize the low interest rates, consider investing a larger down payment and choosing a 15 year vs. 30 year loan.
Click images to enlarge.
With just a couple clicks, don’t forget you can stay on top of what’s happening in your specific neighborhood by using our very own Neighborhood Explorer feature.
You can reach Will Haskins of Haskins Realty Group at 503-869-3700 or firstname.lastname@example.org.
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