So Far in 2009 we've seen a reversal of the market improvement we saw last year. For the first 10 months of the year closing activity is down 7% and the average sale price was off 15.4%. I'm sure a large part of the decline in sales price was do to fewer of the higher priced homes in the marketplace selling.
In 2008 the market in the Blacklick area seemed to be stablizing - Closing activity compared to 2007 was actually up 10.5% and average sale prices were down 3.7% from the prices we saw in '07.
Looking back 2 years we saw the market start to slow in 2006. The Blacklick area experienced a 9.2% drop in activity and a 2.7% decline in average sale price. In 2007 the market continued to soften with average sale prices dropping an additional 7.4% with closing activity declining an additional 11.6%.
Buyers and sellers today will find both opportunities and difficulty in the marketplace today depending on the location and price range. Sellers that have owned their property 5 or more years are in the best position to make a move and benefit from today's great rates which are back around 6% on a 30 year fixed mortgage.
Contact Dan Gregor direct at 614-548-0531 or 1-800-362-4918 today for access to the most up-to-date information throughout Central Ohio. You can also visit www.OhioHomeValues.com for a no obligation Market Snapshot of the real estate market in your neighborhood.
About Dan Gregor:
The 10 member Gregor Team at Prudential American Realty Center offers the homebuyer and homeseller a team of specialists knowledgable in all phases of residential real estate. We offer the services of 2 buyer specialists, 2 listing/marketing specialists, a fine homes specialist, a new homes specialist and the services of a condominium specialist. Plus, access to our lender, title, inspectors and all the additional resources of Prudential locally and nationally.
Our team also offers exclusive services like a guaranteed sale/trade-in program for your present home and the free use of our moving van for local moves. The Gregor Team also uses Prudential's Value Range Marketing (PVRM) which generates substantially more showings and offers on our seller's homes and Prudential's Yahoo Connection provides buyers fast access to all the details on our listed properties and detailed daily activity reports to our sellers showing internet inquiries on their home. Visit our newest site www.OhioHomeValues.com to get your home's value, to search MLS or to request free real estate information.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
