Dothan real estate market – December 2009 Sales report
December 10th, 2009 - Categories: Buying a home in the Dothan area, Dothan area Real Estate Market information, Selling a home in the Dothan area
By: Charles Woodall
http://www.dothanhomesearch.com
November was another good month for the Dothan real estate market. For the second month in a row, home sales were up over last year’s numbers. The increase was even more remarkable this month however, as the number of homes sold, according to data from the Dothan MLS, was up 62% from last November. The overall market for the year-to-date is now down about 15%, compared to same time frame in 2008. If you’ll recall, we spent much of this year showing a drop of about 25%.
Fig. 1 – Monthly number of homes sold in Dothan over the last 12 months
While the number of pending sales has fallen this month, as is typical for this time of year, the overall number is still about 30% higher than last year. This week there are 137 homes listed in pending status in the MLS, compared to 105 from this same week last year. Pending sales are a good indicator is sales activity over the next 60 days.
Fig. 2 – Weekly Dothan pending home sales data over the previous 52 weeks
I get asked regularly how the First Time Homebuyer Tax Credit is affecting Dothan area home sales. We should have a clearer picture on that this month. With the original credit set to expire at the end of November, there may have been a rush to get some deals closed, which could account for the significant increase we have seen over the last couple of months. If sales fall flat in December, we will make that assumption.
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