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Home 2007 TOLEDO & NORTHWEST OHIO 4th QUARTER H...

2007 TOLEDO & NORTHWEST OHIO 4th QUARTER HOME SALES SUMMARY


Here is the breakdown of home sales in and around the Toledo, Ohio Metropolitan area.


Month

Year

Units

Listed

Listed

Volume

Listed

Average

Units

Sold

Sold

Volume

Sold

Average

Average

DOM

Oct

2007

1451

190,527,711

131,307

599

69,823,413

116,566

90

Nov

2007

1192

157,934,470

132,495

502

60,899,452

121,313

98

Dec

2007

772

101,010,968

130,843

336

39,474,003

117,482

90

Totals


3415

449,473,149

131,617

1437

170,196,868

118,439

93






Total Listed

3415

Sold Units

1437

Remaining Units

1978

Inventory Accumulation

4.13

Minimum Sold Price

$1650

Average Sold Price $118,439

Median Sold Price

$104,500

Maximum Sold Price $750,000

Minimum List Price

$0

Average List Price $131,617

Median List Price

$109,900

Maximum List Price

$1,200,000













*Inventory Accumulation (in months) = (# Remaining Units)/(# Sold Units/ # Months)


By comparison, here is the market activity during the same time period in 2006.

Month

Year

Units

Listed

Listed

Volume

Listed

Average

Units

Sold

Sold

Volume

Sold

Average

Average

DOM

Oct

2006

1440

196,848,956

136,700

695

84,388,692

121,422

93

Nov

2006

1220

155,629,414

127,565

595

70,432,381

118,373

88

Dec

2006

1018

139,772,040

137,251

553

67,100,857

121,339

94

Totals


3678

492,200,410

133,823

1843

221,921,930

120,413

92

Total Listed

3678

Sold Units

1843

Remaining Units 1835

Inventory Accumulation 2.99

Minimum Sold Price

$0

Average Sold Price

$120,413

Median Sold Price

$105,000

Maximum Sold Price

$1,390,000

Minimum List Price

$0

Average List Price

$133,882

Median List Price

$111,950

Maximum List Price

$2,600,000

*Inventory Accumulation (in months) = (# Remaining Units)/(# Sold Units/ # Months)

So what does all this mean? Well, homes sales have definitely slowed from 2006 and so has property values in our area. In fact, the average sale price from 2006 and 2007 dipped just about 2%.

For home buyers this is great news because there is plenty of inventory of homes to pick from at great prices! Home sellers need to make sure they are pricing their homes correctly right from the beginning and sweating the details to make sure they are looking as good as possible!

If you're looking for an unbiased professional to help either sell or buy, I stand ready to serve you!

Thanks, and Happy New Year!!






Posted Monday Dec 31