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Home Coweta New Home Market Watch

Coweta New Home Market Watch

A little good news in Dec for Coweta new homes with unit sales up 46% over Nov. However, both months were far below what is needed for a healthy new home mkt. For the year, sales were down a whopping 40.2% with little light at the end of the tunnel. The good news is inventory continues to reduce, currently at 468 homes standing, the lowest its been in decades. As inventories continue to reduce due to few new specs being built, months supply will have a parallel reduction. As that number approaches 6 months we'll have complete health restored back to a battered new home mkt. However, we're currently at 9.3 so we've got a ways to go.

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Total

Gain

% Gain

2005

64

85

99

96

103

117

109

108

102

79

83

98

1,143

37

3.3%

2006

82

104

128

102

105

148

93

122

101

90

85

91

1,251

108

9.4%

2007

67

80

103

82

103

103

107

103

74

53

74

56

1,005

- 246

- 19.7%

2008

45

48

67

57

60

68

59

49

55

34

24

35

601

- 404

- 40.2%

% Diff
07 v 08

-
32.8%

-
40.0%

-
35.0%

-
30.5%

-
41.7%

-
34.0%

-
44.9%

-
52.4%

-
25.7%

-
35.8%

-
67.6%

-
37.5%

-
40.2%

* 27 new homes Under Contract scheduled to close in Jan 2009



Below is Dec sales by price. Over $350K hit a brick wall which was responsible for avg sale prices to fall almost 20%.

6 2008 Data As Of Jan 1, 2009 6

Under
100K

100K
124K

125K
149K

150K
174K

175K
199K

200K
249K

250K
299K

300K
349K

350K
399K

400K
449K

450K
499K

500K
599K

600K &
Above


TOTAL


AVGS

Dec 20084

3

1

5

2

4

8

9

3

0

0

0

0

0

35

$209,757
Posted Monday Jan 26