Stats!!

Hey everyone,
So I was in the office yesterday and the stats sheet came around. Stats used to bore me and I'd just file it under "g" but lately I've learned that they're a very useful tool. We have stats that say how many units sold compared to last year, in specific areas, and average sale prices, average days on market, and it breaks it down into the various neighbourhoods.

For May 2008 compared to May 2007, Single Detached Units Sold is down 19.9%. All others, including Semis, Towns etc. is down 19.8%. This could be construed as bad news for the market, and certainly it makes finding buyers harder, based on the principle of supply and demand. Interestingly enough though, sales of homes $250K to $275K is up 4%, homes in the range of $350K to 399K are up 69.2%! and $400K to $499K are up 27.6%. Sales took a large hit in the lower ranges, where people are living more on a subsistance basis and have less disposable income. One could speculate this is due to the price of fuel and that these buyers are more wary of losing jobs in the manufacturing sectors due to US economic woes.

If we look at these numbers as to how they pertain to trends in the market, it can be safely said that homes within standard price ranges ($250-$300K) have been safe and sales have been brisk. Sales in lower ranges are slower, and sales in the higher ranges are very brisk.
Interestingly enough though, although unit sales are down in the lower ranges, the average price increase in this sector versus last year is up 10.2%.

Email me for more stats info.... I stay educated on this stuff to keep my clients in the best possible position.