Actuallyâ€¦ I am going to have to disagree with those numbers.
In looking at the actual market statistics for the zip code of 78240.. The numbers really look more like this:
Jan 1, 2009 â€“ 12/31/2009 - Average Sales Price was $146,100 â€“ 443 Homes Sold (Single Family Detached)
Jan 1, 2010 â€“ 12/31/2010 â€“ Average Sales Price was $144,247 â€“ 372 Homes Sold (Single Family Detached)
Jan 1, 2011 â€“ 8/9/2011 â€“ Average Sales Price is currently $135,030 â€“ 217 homes sold year to date (Single Family Detached
So.. From 2009 to 2010 â€“ We saw a 1.268% drop in value
From 2010 to 2011 â€“ We are seeing a 6.3897% drop in value (A nice average price drop of $8628.01)
We have also seen interest rates drop to historical lows. The average days on the market for a home went from 101 days in 2009 to 112 days on the market now. Homes are selling just as fast, but now at a lower price.
I think this is because the buyer market, as a whole have recognized that now is the time to buyâ€¦ Those who wait for the market to recover will lose on average of $8600 give or take just for waiting.. and if interest rates recover, this will equate to 10s of thousands of dollars over the life of the loan, just for â€œHolding offâ€ - Not a good time to wait.. Buy when the market is downâ€¦ not when things look great!
Hope this info helps for whatever purpose you needed it for. If you need anything elseâ€¦ donâ€™t hesitate to shoot me an e-mail.
Jason C Campbell
Realtor / Mortgage Loan Officer
Keller Williams Realty