Monday Market Snapshot - June 29, 2009
June 29th, 2009 - Categories: Dothan area Real Estate Market information, Inside the numbers
By: Charles Woodall
Managing Broker
http://www.dothanhomesearch.com
| Homes on market | 1101 | DOWN |
| Median List price | $164,500 | UP |
| Avg $ per sq ft | $92.88 | DOWN |
| Avg days on market | 174 | UP |
| Least expensive listing | $10,000 | - |
| Most expensive listing | $1,950,000 | - |
| Pending sales | 184 | UP |
| Sales last 30 days | 71 | UP |
The number of homes for sale in and around Dothan has dropped back a bit in the last few weeks. The average dollars per square foot of homes listed as active on the market is at its lowest level since we started tracking that statistic on a weekly basis last July.
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Monday Market Snapshot - June 22, 2009
June 22nd, 2009 - Categories: Dothan area Real Estate Market information, Inside the numbers
By: Charles Woodall
Managing Broker
http://www.dothanhomesearch.com
| Homes on market | 1116 | DOWN |
| Median List price | $164,000 | UNCHANGED |
| Avg $ per sq ft | $93.29 | DOWN |
| Avg days on market | 171 | UP |
| Least expensive listing | $10,000 | - |
| Most expensive listing | $1,950,000 | - |
| Pending sales | 177 | DOWN |
| Sales last 30 days | 58 | DOWN |
Homes on the market are down slightly this week, but so are pending sales and homes sold in the last thirty days
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Monday Market Snapshot - June 15, 2009
June 16th, 2009 - Categories: Dothan area Real Estate Market information, Inside the numbers
By: Charles Woodall
Managing Broker
http://www.dothanhomesearch.com
| Homes on market | 1122 | UP |
| Median List price | $164,000 | DOWN |
| Avg $ per sq ft | $93.56 | DOWN |
| Avg days on market | 169 | DOWN |
| Least expensive listing | $10,000 | - |
| Most expensive listing | $1,950,000 | - |
| Pending sales | 181 | UP |
| Sales last 30 days | 66 | UP |
Pending sales are up again this week, rising to 181 homes. 30-day home sales are also up to their high level since late April. Looking at pricing parameters, both median list price and average dollars per square foot continue to fall.
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Dothan real estate market - June 2009 Sales report
June 9th, 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
Managing Broker
http://www.dothanhomesearch.com
Home sales in and around the Dothan area fell to their lowest monthly level since January last month, with just 64 houses shown as sold during May, according to data from the Dothan Multiple Listing Service. That is down from the 76 sold in April and is nearly half of the number of homes sold in May of 2008. Year-to-date, home sales in the Dothan real estate market are lagging over 27% behind 2008 numbers.
On a positive note, pending sales have been trending upward over the last couple of months. In fact, the 174 homes marked as pending in the Dothan MLS this week is the highest since early last summer. The number of homes listed in pending status is a good indication of sales activity in the next 30–60 days.
So what does this mean? It could possibly mean that the Dothan real estate market has reached its bottom. That does seem somewhat unlikely, given that the number of homes currently on the market is at an all-time high. There can be no sustainable rebound in home sales until inventory starts to fall. Also, median price so far in 2009 has been just under $130,000, which is down three to four percent from the final 2008 number. Hopefully, we won’t need to see any further erosion of prices before an upswing begins. Time will tell. One thing is for sure, we won’t know until several months after it has already happened that the bottom has been reached.
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Monday Market Snapshot - Dothan real estate picture on June 8, 2009
June 8th, 2009 - Categories: Dothan area Real Estate Market information, Inside the numbers
By: Charles Woodall
Managing Broker
http://www.dothanhomesearch.com
| Homes on market | 1114 | UP |
| Median List price | $164,900 | UNCHANGED |
| Avg $ per sq ft | $94.20 | DOWN |
| Avg days on market | 171 | DOWN |
| Least expensive listing | $10,000 | - |
| Most expensive listing | $1,950,000 | - |
| Pending sales | 174 | UP |
| Sales last 30 days | 57 | DOWN |
While the number of homes for sale in and around Dothan was up slightly again this week, the number of pending sales skyrocketed to a 12-month high. In fact, pending sales are up 34% since mid April.
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Dothan Real Estate Market - June 2009 Inventory Report
June 4th, 2009 - Categories: Dothan area Real Estate Market information, Inside the numbers
By: Charles Woodall
Managing Broker
http://www.dothanhomesearch.com
Nothing much changing when it comes to the number of homes on the market in and around Dothan. This week, there still over 1,100 houses listed in the Dothan MLS for sale, up slightly from last month. As you can see from the graph, the number has done nothing but climb since the first of the year.
Absorption rate
Home sales for the Dothan real estate market continue to be slow, and that is causing the months of inventory to now rise, back up to nearly 15 months of houses on the market. If no more homes came on the market, it would take over a year and three months to sell everything that is currently listed, based on the current rate of homes sold. This figure represents a market that is firmly in the corner of the buyer.
Here are inventory and absorption rate numbers for different price ranges.
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Monday Market Snapshot - May 25, 2009
May 25th, 2009 - Categories: Dothan area Real Estate Market information, Inside the numbers
By: Charles Woodall
Managing Broker
http://www.dothanhomesearch.com
| Homes on market | 1103 | UP |
| Median List price | $169,900 | UP |
| Avg $ per sq ft | $96.08 | UNCHANGED |
| Avg days on market | 175 | UP |
| Least expensive listing | $18,000 | - |
| Most expensive listing | $1,950,000 | - |
| Pending sales | 152 | DOWN |
| Sales last 30 days | 57 | UP |
The number of homes on the market in Dothan is back over 1100, while median list price is back up to almost $170,000.
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Monday Market Snapshot - May 18, 2009
May 18th, 2009 - Categories: Dothan area Real Estate Market information, Inside the numbers
By: Charles Woodall
Managing Broker
http://www.dothanhomesearch.com
| Homes on market | 1096 | DOWN |
| Median List price | $168,050 | UP |
| Avg $ per sq ft | $96.08 | UNCHANGED |
| Avg days on market | 174 | UP |
| Least expensive listing | $12,000 | - |
| Most expensive listing | $1,950,000 | - |
| Pending sales | 157 | UP |
| Sales last 30 days | 49 | DOWN |
Good signs this week - Pending sales are at their highest level since last summer, and the number of homes for sale around Dothan is down slightly, back below 1,100.
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Dothan real estate market - May 2009 Sales report
May 15th, 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
Managing Broker
http://www.dothanhomesearch.com
Month-to-month sales were down over 11% in April, and compared to April, 2008, the number of homes sold in Dothan was down almost 22%. Through the first four months of 2009, Dothan home sales are down 21% compared to the same time period last year. Right now, we are looking at a pace of home sales that hasn’t been seen in a decade. Keep in mind, these numbers are directly from the Dothan MLS, and are deemed reliable, but not guaranteed.
The number of pending sales did rise ever so slightly over the last month, and has been holding around the 140 mark over the last few weeks. Still, this spring certainly hasn’t brought the typical strong selling season to which we have become accustomed. The way the Dothan area lags behind in responding to economic conditions, it could be several more months before we see any signs of a turnaround in the housing market here in our area.
We are asked everyday by home sellers what they should do with the market conditions as they are. The best advice we can give is that if you don’t absolutely have to sell, then you shouldn’t be on the market right now. If you do absolutely have to sell, either because of a relocation or financial hardship, you need to be prepared to accept what the market is giving right now, which is prices much closer to what they were earlier this decade than what they have been in the last three or four years.
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Alabama foreclosures skyrocket in April
May 14th, 2009 - Categories: Dothan area Real Estate Market information
By: Charles Woodall
Managing Broker
http://www.dothanhomesearch.com
Not a good sign-
Foreclosures in Alabama rose more than 269 percent last month, ranking its foreclosure rate the 29th highest in the nation.
According to RealtyTrac, a tracker of foreclosures nationwide, the state had a total of 2,308 properties in some form of foreclosure, or one for every 926 households.
That’s more than 269 percent more than April 2008 and more than 2 percent more than March, which also saw triple-digit increases.
Alabama foreclosures skyrocket in April - Birmingham Business Journal:.
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