SEE WHAT'S HAPPENING WITH DEFIANCE AREA REAL ESTATE

See What's Happening with Defiance Area Real Estate

Maybe you've heard the doom and gloom the national media has been spouting lately about the real estate market and how poorly it is doing. It's true that the market has taken some hits lately, but our local market has not shouldered the burden near as much as other national markets have. To make a point, I decided to take a look back at the past two years of sales in the Defiance market and see what kind of changes we have had.

According to the local multiple listing service, in 2006 there were 365 properties sold in the Defiance market or an average of one per day. Those properties sold for an average price of $119,329 and spent an average of 118 days on the market.

In 2007 the market dipped slightly as 329 properties were sold, or an average of 27.42 per month, for an average price of $113,412 and spent an average of 119 days on the market. So far the first two months of 2008 there have been 36 properties sold for an average price of $108,189 with an average days on the market of 118. See the chart below to see the changes.

It's interesting to note that we have had a slight dip in the real estate activity since 2006, but the margin of change has been minimal in our area. It has not been near the same type of dip that many parts of our country are facing. What this means for the people in our area, is that with the still low interest rates and the adjusting average home prices, that there are some great deals available for someone wanting to purchase a home in our area. It also means that home sellers who are willing to look at price their home appropriately to it's value are still getting their homes sold in a reasonable amount of time.

So, if you have been thinking of buying or selling a home this spring in the Defiance area but, have been concerned about all the negative reports coming across the news lately, be rest assured that homes in our area are still being bought and sold everyday.

(Statistics derived from MLS areas Defiance, Defiance Township, Ayersville Area and NE Defiance County)

Scott Williams is a Licensed Realtor® with Butler Mohr GMAC Real Estate and can be contacted at Scott@butlermohr.com or through his website: http://www.defianceareahomes.com/