It just continues to appear that the high-priced homes are not moving.
For homes with at least a $300,000 list price since the beginning of the year:
What does that mean?
Let’s take a look at the current actives and how they break-down across the market:
| Active | Number | Days on Market |
|---|---|---|
| $0 - 150,000 | 156 (13%) | 114 (-11%) |
| $150,001 - $300,000 | 871 (44%) | 110 (-14%) |
| $300,001 - | 972 (49%) | 146 (+14%) |
| Total | 1,999 | 128 |
Amazingly, almost half of the homes for sale in Delaware County are more than $300,000. But are the solds comparable?
| Solds | Number | Days on Market |
|---|---|---|
| $0 - 150,000 | 82 (15%) | 111 (-18%) |
| $150,001 - $300,000 | 285 (51%) | 131 (0%) |
| $300,001 - | 192 (34%) | 152 (+13%) |
| Total | 559 | 135 |
Homes with a $300,000 list price accounted for 49 percent of the Delaware County listings, however they only accounts for 34 percent of the sales. And those that do sell, take an extra 17 days - or 14 percent longer - to sell than the average in Delaware County today.
The days on market seems like common sense, the higher a home is priced the longer you would expect it to take to sell. I just can see the justification for this many $300,000+ homes in Delaware County right now.
We need more affordable homes in Delaware County, but that’s a rant for another day.
Photo by “anon” and used via license from Stock.xchng.
Popularity: 19% [?]
2 responses so far ↓
1 Jack // Jan 11, 2008 at 10:26 pm
Thank you for the comparative and insightful info!
2 Toby Boyce // Jan 11, 2008 at 11:48 pm
Thanks Jack. I need to get some updated numbers out soon.
Leave a Comment