Well, how do I work this? You may ask yourself, where is that large automobile? Thank you Talking Heads but we would like to ask THE pertinent question for 2010: Has the market stabilized? What do the numbers from the soon-to-be ending first quarter tell us? And yes, one fourth of this year is almost gone (zoinks)! [I figure if I'm quoting David Byrne I may as well throw a little Shaggy in there, too]
Our numbers:
During the first quarter of 2009, we sold 12 real estate sides (each side is 1/2 of an entire transaction. For example: if a house sells, there are 2 sides: the buyer's agent side and the seller's agent side. I know it can be confusing so for more on this just give us a call, but it makes sense to us the professional Realtor-type guys.) The first quarter of 2010 saw us sell 15 real estate sides. According to our mathletic ability, 15 is more than 12. 14% more to be exact.
We closed a volume of $3,882,500 in the first quarter in 2009 (each transaction has a possible volume that is twice as much as the actual sales price. This goes back to the 2 sides conundrum above. Again, potentially confusing, but give us a call and we will explain). In 2010, our first quarter volume closings will be $6,838,400. That will be an increase in volume of 44%. I'm going to waste some digital space here and go ahead and say we're pretty excited about that!
Also, the number of new listings coming on the market has dropped. This means fewer listings which in turn means even fewer good deals. This is a textbook indicator that the market is in fact on the rebound and moving back to "Advantage Seller" side, albeit not just yet.
Now for the bad news: MLS data year over year, year to date, shows a 14% decrease in unit sides closed and a 21% decrease in volume closed. A significant tumble to be sure, especially considering 2009 was one of the worst years in a long time.
What does this mean to you? Simple, enough with the "glass is half empty" mentality! Most economic indicators are looking solid. The stock market is mounting an impressive comeback, the faux-ending of the tax credit back in November prompted many to accelerate their closing on a property and even the weather, which was brutal this winter, is starting to cooperate.
So the answer to THE question? 2010 is a year of stabilization...so act accordingly! Now is the time to buy a Lake Keowee Property and talk your friends into doing the same. And don't worry sellers, your day is coming and it won't be "same as it ever was, same as it ever was
..."
If you want to know more about anything we do, would like to see us discuss a particular subject, or have some suggestions for changes/additions to our format, take a moment to send us an email at
MattRoach@ERAtopgunsrealty.com or
MikeRoach@ERAtopgunsrealty.com. We would really appreciate your input!
Take a moment to watch Mike Roach update you on the latest happenings on Lake Keowee for March! Click on the play button below.
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