2009 in Review

Now that the 2010 real estate market is underway it is time to summarize 2009. In Pender County a total of 447 properties closed in 2009. Of these properties, 17.23% sold in less than 30 days, 13.42% sold between 31-60 days, 11.63% sold between 61-90 days, 7.38% sold between 91-120 days and aa whopping 50.34% took over 121 days on market before selling. This comes as no suprise to anyone trying to sell in 2009. Days and dollars spent actively marketing real estate was over the top in 2009. With all these long days on market, these sellers still only averaged a 93.95% sales price to list price ratio. This low ratio is due in part to 2009 still seeing many overpriced houses on the market. Sellers finally realized that in order to sell they must either lower their list price or accept a lower offer. The latter occurred more often than the former. 2010 is showing more realistic list prices and more homes priced under $250,000 are selling. What will our spring market bring? Stay tuned and let me know your thoughts.