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Average Home Prices
Price per Square foot
As you can see, our market has been down over the last 12 months, but has risen some in the last four months. We have also seen our inventory shrink from 2.8 months to 1.9 months in the last four months. Inventory has been low for the last few months, especially in the $100,000-$200,000 price range. It has made for a very competitive market for buyers. It is common to have multiple offers on the same property.
The majority of homes sold have been short sales at 51%. Bank owned or foreclosure sales have made up 19% of sales. 70% of our sales are made up of disstressed properties. The remaining 30% of sales are traditional sales, including plenty of flip sales.
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