2007 Home Sales Statistics

[smilin]

Here are some stats from the local MLS:

St.Marys County homes sales for 2007:
Total unit sales are down % 18 over 2006
Average sales price up % 3.25
Median Price up % 3.30

Look at the days on market: UP % 65!

Calvert's stats are pretty much along the same lines. Interesting to hear speculation on the reasons.

(Click on news in upper left corner)
Metropolitan Regional Information Systems, Inc

 

[backagain39]

Here are some stats from the local MLS:

St.Marys County homes sales for 2007:
Total unit sales are down % 18 over 2006
Average sales price up % 3.25
Median Price up % 3.30

Look at the days on market: UP % 65!

Calvert's stats are pretty much along the same lines. Interesting to hear speculation on the reasons.

(Click on news in upper left corner)
Metropolitan Regional Information Systems, Inc

The reason is.... unless you have two high paying incomes (such as two GS-12s or above) coming into the household then the average pay in this area will not support the cost of a house. And if you do happen to stumble across something affordable then it is falling to the ground.

 

[somdrenter]

Here are some stats from the local MLS:

St.Marys County homes sales for 2007:
Total unit sales are down % 18 over 2006
Average sales price up % 3.25
Median Price up % 3.30

Look at the days on market: UP % 65!

Calvert's stats are pretty much along the same lines. Interesting to hear speculation on the reasons.

(Click on news in upper left corner)
Metropolitan Regional Information Systems, Inc

Take a look at appreciation rates for 07’, 06’, 05’ and 04’. Notice a trend? How about for the last 7 months?

 

[somdrenter]

The reason is.... unless you have two high paying incomes (such as two GS-12s or above) coming into the household then the average pay in this area will not support the cost of a house. And if you do happen to stumble across something affordable then it is falling to the ground.

A very simple concept and one that has been overlooked for the last few years. With home prices over 4x household income, it doesn’t take much to rock the boat. Take away the loose lending standards and toxic mortgages, what will come along to shore up prices?