This report pertains to residential homes on less than 10 acres sold for the week of Oct 19th to Oct 25th as reported by the Lebanon Board of Realtors MLS.
This week there were 5 homes sold for a total of 596 thousand. The average price of these sold homes was 119 with the median at 100K These homes had an average time on the market of 99 days. There are currently 20 homes listed as under contract in the Lebanon MLS and those homes have an average price of 141 thousand.
Year to date there have been 269 homes sold, down from last years 330 during the same time frame, the average price is 114 thousand dollars compared to last years 107K; the YTD volume of 30.7 million is under last years 35.4 million. Our average time on the market this year has been 140 days, that’s up from last years 114 day average.
As of this morning there were 374 homes with less than 10 acres, listed with the Lebanon MLS. The average asking price is 148 with median asking price of just about 125; these homes have an average time on the market of 121 days.
If you are considering buying a home in the near future here are some great tips from our web site to consider.
Get pre approved for a home loan. That’s the only way to know for sure what you can afford to buy, and that will prevent you from falling in love with a house you can’t afford. When you choose a lender choose a local one. There are a lot of ads lately from companies advertising terms that sound too good to be true, most likely they are. In many cases I have seen buyers use these out of town lenders only to get to closing and find out the terms are not what they were told, and by that time it’s too late. With a local lender you have a person here in town who will be accountable. All lenders should provide you with a written good faith estimate when you apply for the loan. Local lenders are capable of getting you a loan as good as any so shop around or ask your friends, family, or realtor for a recommendation.
Be sure and visit our web site at lebanonrealtyx.com for more great buyer and seller tips.
Archive for October of 2007
Weekly Market Report 10-25-07
October 25, 2007Weekly Market Report 10-19-07
October 19, 2007
This report pertains to residential homes on less than 10 acres sold for the week of Oct 12th to Oct 18th as reported by the Lebanon Board of Realtors MLS.
This week there were 5 homes sold for a total of 462 thousand. The average price of these sold homes was 92.5. These homes had an average time on the market of 121 days. There are currently 1 homes listed as under contract in the Lebanon MLS and those homes have an average price of 150 thousand.
Year to date there have been 263 homes sold, down from last years 325 during the same time frame, the average price is 114 thousand dollars compared to last years 107K; the YTD volume of 30 million is under last years 34.8 million. Our average time on the market this year has been 141 days, that’s up from last years 113 day average.
As of this morning there were 370 homes with less than 10 acres, listed with the Lebanon MLS. The average asking price is 148 with median asking price of just about 125; these homes have an average time on the market of 120 days.
Web sites have become more and more important in the real estate world over the last 5 years, more important than most of us believed they would be. The National association or realtors indicates that more than 85% of home buyers start their home search on the internet. If you are selling your home you need to visit your REALTORS web site. You may be shocked to find out that not all web sites are created equal. You may be even more surprised to find out that in most areas very few agents have their own web site. You should be trusting an agent who understands how to attract traffic to a site and create interest in a property, it needs to have IDX features, mapping, appointment setup systems, and a lead capture system. If you don’t understand what these features are let me know and I would be happy to explain them to you in detail. With today’s technology your home should be marketed on 20 to 40 different web sites so that you get maximum exposure, each of those sites should all be capable of leading the buyer to your agent so they can get that prospect excited about seeing your home. If you want to see a top notch web site visit ours at lebanonrealtyx.com, or visit our regional IDX site realtyx.com, if you are shopping for a home you can sign up on our site to receive any new listing in your e-mail, and I mean any new or old listing from the entire area, listed with any realtor, on the day it is listed, and this service is free and without obligation. Just go to our site and click on “receive home listing by e-mail”.
This week there were 5 homes sold for a total of 462 thousand. The average price of these sold homes was 92.5. These homes had an average time on the market of 121 days. There are currently 1 homes listed as under contract in the Lebanon MLS and those homes have an average price of 150 thousand.
Year to date there have been 263 homes sold, down from last years 325 during the same time frame, the average price is 114 thousand dollars compared to last years 107K; the YTD volume of 30 million is under last years 34.8 million. Our average time on the market this year has been 141 days, that’s up from last years 113 day average.
As of this morning there were 370 homes with less than 10 acres, listed with the Lebanon MLS. The average asking price is 148 with median asking price of just about 125; these homes have an average time on the market of 120 days.
Web sites have become more and more important in the real estate world over the last 5 years, more important than most of us believed they would be. The National association or realtors indicates that more than 85% of home buyers start their home search on the internet. If you are selling your home you need to visit your REALTORS web site. You may be shocked to find out that not all web sites are created equal. You may be even more surprised to find out that in most areas very few agents have their own web site. You should be trusting an agent who understands how to attract traffic to a site and create interest in a property, it needs to have IDX features, mapping, appointment setup systems, and a lead capture system. If you don’t understand what these features are let me know and I would be happy to explain them to you in detail. With today’s technology your home should be marketed on 20 to 40 different web sites so that you get maximum exposure, each of those sites should all be capable of leading the buyer to your agent so they can get that prospect excited about seeing your home. If you want to see a top notch web site visit ours at lebanonrealtyx.com, or visit our regional IDX site realtyx.com, if you are shopping for a home you can sign up on our site to receive any new listing in your e-mail, and I mean any new or old listing from the entire area, listed with any realtor, on the day it is listed, and this service is free and without obligation. Just go to our site and click on “receive home listing by e-mail”.
Weekly Market Report 10-12-07
October 12, 2007
This report pertains to residential homes on less than 10 acres sold for the week of Oct 5th to Oct 11th as reported by the Lebanon Board of Realtors MLS.
This week there were 6 homes sold for a total of 883 thousand. The average price of these homes was almost 139 and the median price over 121 these homes had an average time on the market of 201 days. There are currently 18 homes listed as under contract in the Lebanon MLS and those homes have an average price of 126 thousand.
Year to date there have been 255 homes sold, down from last years 317 during the same time frame, the average price is 115 thousand dollars compared to last years 106K; the YTD volume of 29.4 million is under last years 33.7 million. Our average time on the market this year has been 142 days, that’s up from last years 114 day average.
As of this morning there were 362 homes with less than 10 acres, listed with the Lebanon MLS. The average asking price is 150 with median asking price of just about 128; these homes have an average time on the market of 119 days.
Well I read an article earlier today on MSN that focused on Real Estate markets throughout the country. For the most part the article came down to common sense. The writer indicated that areas in the south have continued to see good real estate markets and average appreciation which co insides with their stable economy job growth. Any area that has a stable economy and job growth is likely to have a stable real estate market. Here in Lebanon we have seen a drop in the total # of sales this year but prices have shown some appreciation. I believe the drop we have had in sale is due to the overall perception of the consumer on a local level which is fueled by the national media. Don’t listen to the negativity in the press, our economy is stable and our job market is good so don’t be fooled into thinking now is a bad time to buy or sell. With the right professional working on your side you will have a good picture of your local market and know what opportunities are right for you.
This week there were 6 homes sold for a total of 883 thousand. The average price of these homes was almost 139 and the median price over 121 these homes had an average time on the market of 201 days. There are currently 18 homes listed as under contract in the Lebanon MLS and those homes have an average price of 126 thousand.
Year to date there have been 255 homes sold, down from last years 317 during the same time frame, the average price is 115 thousand dollars compared to last years 106K; the YTD volume of 29.4 million is under last years 33.7 million. Our average time on the market this year has been 142 days, that’s up from last years 114 day average.
As of this morning there were 362 homes with less than 10 acres, listed with the Lebanon MLS. The average asking price is 150 with median asking price of just about 128; these homes have an average time on the market of 119 days.
Well I read an article earlier today on MSN that focused on Real Estate markets throughout the country. For the most part the article came down to common sense. The writer indicated that areas in the south have continued to see good real estate markets and average appreciation which co insides with their stable economy job growth. Any area that has a stable economy and job growth is likely to have a stable real estate market. Here in Lebanon we have seen a drop in the total # of sales this year but prices have shown some appreciation. I believe the drop we have had in sale is due to the overall perception of the consumer on a local level which is fueled by the national media. Don’t listen to the negativity in the press, our economy is stable and our job market is good so don’t be fooled into thinking now is a bad time to buy or sell. With the right professional working on your side you will have a good picture of your local market and know what opportunities are right for you.
Weekly Market Report 10-4-07
October 04, 2007
This report pertains to residential homes on less than 10 acres sold for the week of Sept 28th to Oct 4th as reported by the Lebanon Board of Realtors MLS.
This week there were 5 homes sold for a total of 445 thousand. The average price of these homes was 89 and the median price at 117 these homes had an average time on the market of 123 days. There are currently 16 homes listed as under contract in the Lebanon MLS and those homes have an average price of 130 thousand.
Year to date there have been 249 homes sold, down from last years 311 during the same time frame, the average price is 114 thousand dollars compared to last years 106K; the YTD volume of 28.5 million is under last years 33 million. Our average time on the market this year has been 141 days, that’s up from last years 114 day average.
As of this morning there were 360 homes with less than 10 acres, listed with the Lebanon MLS. The average asking price is 150 with median asking price of just about 127; these homes have an average time on the market of 118 days.
Today I want to talk about pricing your home properly when its time to sell. I am often asked by people what a particular home is worth, and I am always reminded that it is impossible to know the exact value of a piece of real estate at any given time. The only truth is this: your home is worth whatever a buyer is willing and qualified to pay. That amount can change from day to day and the only way to know for sure is to have an auction on the day you want to know. The most accurate value a Realtor can give you of your home will always be in the form of a range. There is a tendency with sellers to over price their homes, the most common reason I hear for this is that sellers think all buyers will insist on negotiating. Here is an example of why this thinking is flawed; the first 2 weeks your home is for sale will be the most active time for showings during your listing term. In that first 2 weeks all the buyers who have been looking and have not found the right place will come and see your home, if you have priced you 200K home at 230K these buyers will automatically recognize that it does not compare to your competition, they will not make an offer because --- 1, its less home than they are looking for, or ---- 2 they wont insult you with a low offer. Sure, if it doesn’t sell you can lower the price, but you will never regain that increased activity. Homes sell in Laclede County for 94% of there asking price on average, out of our office we sell homes for 97% of asking. Don’t make the mistake of overpricing your home, in the end it will sell for less, then had you priced it right to begin with
This week there were 5 homes sold for a total of 445 thousand. The average price of these homes was 89 and the median price at 117 these homes had an average time on the market of 123 days. There are currently 16 homes listed as under contract in the Lebanon MLS and those homes have an average price of 130 thousand.
Year to date there have been 249 homes sold, down from last years 311 during the same time frame, the average price is 114 thousand dollars compared to last years 106K; the YTD volume of 28.5 million is under last years 33 million. Our average time on the market this year has been 141 days, that’s up from last years 114 day average.
As of this morning there were 360 homes with less than 10 acres, listed with the Lebanon MLS. The average asking price is 150 with median asking price of just about 127; these homes have an average time on the market of 118 days.
Today I want to talk about pricing your home properly when its time to sell. I am often asked by people what a particular home is worth, and I am always reminded that it is impossible to know the exact value of a piece of real estate at any given time. The only truth is this: your home is worth whatever a buyer is willing and qualified to pay. That amount can change from day to day and the only way to know for sure is to have an auction on the day you want to know. The most accurate value a Realtor can give you of your home will always be in the form of a range. There is a tendency with sellers to over price their homes, the most common reason I hear for this is that sellers think all buyers will insist on negotiating. Here is an example of why this thinking is flawed; the first 2 weeks your home is for sale will be the most active time for showings during your listing term. In that first 2 weeks all the buyers who have been looking and have not found the right place will come and see your home, if you have priced you 200K home at 230K these buyers will automatically recognize that it does not compare to your competition, they will not make an offer because --- 1, its less home than they are looking for, or ---- 2 they wont insult you with a low offer. Sure, if it doesn’t sell you can lower the price, but you will never regain that increased activity. Homes sell in Laclede County for 94% of there asking price on average, out of our office we sell homes for 97% of asking. Don’t make the mistake of overpricing your home, in the end it will sell for less, then had you priced it right to begin with
