Dothan Real Estate Market Update for October, 2007
October 11th, 2007 - Categories: Inside the numbers
By: Charles Woodall
Managing Broker
http://www.dothanhomesearch.com
The number of homes for sale in Dothan continues skyward. I have mentioned in previous market updates that we have doubled the number of homes on the market in just under two years. Well, in the past six months alone inventory is up nearly 22%.
Click on the graphic on the right for a full view of the statistics.
Here are the highlights:
- The number of homes under contract (pending sales) fell to the lowest level since November of 2006. It looks like our seasonal slowdown might be starting a couple of months earlier this year.
- Sales were down 33% for the third quarter just finished when compared to the third quarter of 2006.
- There are now over 900 homes on the market, the highest number since May of 2002. At that time, average days on market was around 150 days. Look for average days on market to continue to go up.
As it most real estate markets around the country, it is a great time to be a home buyer in Dothan!
Possibly Related Posts
- Dothan Real Estate Market Update - November, 2007
- Pending Home Sales Continue to Fall in Dothan
- Dothan Real Estate Market Update for August, 2007
This entry was posted on Thursday, October 11th, 2007 at 2:57 pm and is filed under Inside the numbers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
[…] We have discussed other market numbers recently, including an analysis of days on market, absorption rate, and the overall numbers. All of them point to a slowing market. Today I want to throw a new number into the mix. We’ll call it the Pending Sales Ratio. […]