| Market Update For Bradley County Tennessee April 2008 |
| Average List Price | $158,378 |  |
| Average Sold Price | $152,453 | |
| Average Days On The Market (DOM) | 113 | |
| Total Number Of Homes Sold | 71 |  |
| Total Dollars Value Of Homes Sold | $10,824,201 | |
| Homes Currently For Sale | 859 | |
| Market Stats For Bradley County Homes April 2007 |
| Average List Price | $150,993 | |
| Average Sold Price | $147,163 | |
| Average Says On The Market (DOM) | 119 | |
| Total Number Of Homes Sold | 91 | |
| Total Dollar Value Of Homes Sold | $13,391,923 |
| Summary: There was a 28% decrees in the number of homes sold in the month of April 2008 when compared with the same time period in 2007 as well as a 24% decrease in the total dollar value of homes sold. This just underlines the fact that there are still significant challenges in todays market. On the other hand there a several surprisingly good number. For example, the total number of homes for sale has decreased month over month which is a very healthy thing for the market which is currently flooded with homes. We also see actual increases in the average listing and sales prices of the homes sold this April in comparison with April 2007. Good signs which if continued will bring us back into market balance. If you are selling a home in Bradley County Tennessee be sure to price it aggressively looking at the active competition you have and get the home in tip top shape! If you have more questions directly related to where your home is in relation to the market or if you want to buy or sell just give me a call. 423-650-4422 or e-mail Craig@CraigHarding.Com |
| Polk County Home Sales Report - April 2008 |
| Average List Price | $114,977 | |
| Average Sold Price | $111,338 | |
| Average Days On The Market (DOM) | 93 | |
| Total Number Of Homes Sold | 9 | |
| Total Dollars Value Of Homes Sold | $1,002,000. | |
| Homes Currently For Sale | 114 | |
| Polk County Homes Sales April 2007 | ||
| Average List Price | $131,700 | |
| Average Sold Price | $129,337 | |
| Average Says On The Market (DOM) | 191 | |
| Total Number Of Homes Sold | 8 | |
| Total Dollar Value Of Homes Sold | $1,034,000. |
| Well what does this mean? Overall this month has been a very positive month in comparison both with last year and when compared with the month of March. Last months statistics where concerning especially if they had continued and became a trend. This month has largely reversed the conditions observed. All of this being said we are still in a challenging market and need to keep that in mind when preparing to sell a home. The average list price of homes sold has decreased year over year this month and the total dollar value of homes sold has show a very slight decrease. The most concerning statistics are they increase in the number of homes for sale month over month (which is very likely just a season adjustment) and the decrease in average list and sold price as this becomes especially challenging for homes in the middle and upper market ranges. So if you are a buyer there a allot of good choices to look at when buying and if you are a seller be sure to make your home not only the home in the best condition but also the best home with the best price! If you have any additional questions about the local market or are interested in selling your home or buying a home just give me a call 423-650-4422 |
| Polk County Home Sales Report (March 2008) |
| Market Direction | ||
| Average List Price | $126,483 | |
| Average Sold Price | $121,300 | |
| Average Days On The Market (DOM) | 100 | |
| Total Number Of Homes Sold | 6 | |
| Total Dollars Value Of Homes Sold | $728,000 | |
| Homes Currently For Sale | 99 | |
| Polk County Home Sales Report (March 2007) |
| Average List Price | $191,950 | |
| Average Sold Price | $186,000 | |
| Average Says On The Market (DOM) | 182 | |
| Total Number Of Homes Sold | 14 | |
| Total Dollar Value Of Homes Sold | 2.4 Million |
| The Nuts And Bolts: The number that jumps out at me the most (there are a couple) is the fact that there has been a 70% decrees in the number of homes sold and when you combine that with a 35% decrease in the average price of a home sold it is not very encouraging. The one bright spot is that the average days on the market for the few homes that did sell was 82 less this year than last. One month is not a long enough space of time to get a full feeling for a trend but it is a warning sign. If you are needing to sell a home in polk county right away you need to make sure it is in spotless condition and priced right, or if it is in less than pristine condition then you need to price it 10-20% lower than the competition that is in better condition or plan on taking the risk and waiting for market improvement. |
| Bradley County Home Sales March 2008 |
| Market Direction | ||
| Average List Price | $144,128. | |
| Average Sold Price | $136,708 | |
| Average Days On The Market (DOM) | 135 | |
| Total Number Of Homes Sold | 78 | |
| Total Dollars Value Of Homes Sold | 10.6 Million | |
| Homes Currently For Sale | 871 | |
| Bradley County Home Sales March 2007 |
| Average List Price | $159,382 |
| Average Sold Price | $157,326 |
| Average Says On The Market (DOM) | 145 |
| Total Number Of Homes Sold | 92 |
| Total Dollar Value Of Homes Sold | 14.5 Million |
| What does this all mean? Well, 15% less homes sold in the same period in 2008 as in 2007. The average price of homes sold is down 13% and the total value of homes sold is down almost 4 million dollars. There is an over 11 month supply of homes for sale in Bradley county which mean if you are a buyer you have lots of choices. Here is how I see it. For a home to sell in this market it needs to be the best priced home in the best condition or if it is not in great condition it needs to be priced 10-15% lower than it would have otherwise have been priced. Buyers should not expect to come in and offer significantly lower that asking price on homes that are in one of these 2 categories as the statistics show that across the market seller are only coming down an average of 5% from their current list price. |
Bradley County Home Sales February 2008
Average List Price $152,200
Average Sold Price $145,200
Average Days On The Market 121
Properties Sold 83
Total Dollars Of Homes Sold $12,000,000.
Homes Currently For Sale 867
Bradley County Home Sales February 2007
Average List Price $162,200
Average Sold Price $158,000
Average Days On The Market 147
Properties Sold 91
Total Dollars Of Homes Sold $14,400,000.
What Does This All Tell Us? This is a great report considering the current national market. Homes are selling in Bradley County Tennessee quicker than they where a year ago. There was only 9% less homes sold this year than last year for the month of February and the total amount sold was very close to matching 2007 numbers. The average price for both listing and sold homes is down this year indicating that seller while not taking the beating that many parts of the country have are still having to price their homes right from the start and are taking a little less than what they where last year. For example if you home was listed competitively last year at around $100,000 you where going to get on average around $97,000 but this year you will get $95,000 if you where asking about $100,000. So home pricing and negotiation are key in this market with so many choices available to buyers. If you are buying and can't find a home to meet your needs today then you will most likely never find one! This is a great time to be a buyer looking for a fairly priced good home.
 |
|
|
ABR & CDPE Working in Residential, Log Home, Commercial and 1031 Exchange Serving Polk, Bradley, Monroe, Hamilton and McMinn County as well as North Georgia. RE/MAX Rivergate WWW.CraigHarding.com
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
