Antelope Real Estate Market Update August 2008
A few months ago unit volume was peaking in Antelope, which made for a nice Antelope stampede pun, but this year we can see the curve rounding the top, at least temporarily.
63 homes sold in August, up 23.5% from the same time last year. The average home selling price fell 32.1% over the year, from 312,766 in August of 2007 to $212,214 in August of 2008. Since this year’s home was also slightly smaller in Antelope, the sold price per square foot fell less sharply, but still lost 26.9%. Sold price per square foot in August of 2008 was $132.42.
Short sales closed relatively well in Antelope in August, accounting for 23.8% of all sales. Foreclosures made up 61.9% of all sales, while non-distressed sales accounted for only 14.3% of the total. Those who’ve been predicting for the last eighteen months that any minute now banks will suddenly smarten up and start approving short sales may want to look to August, 2008 in Antelope to see themselves vindicated. (Just don’t look at other data points or you may be disappointed!)
Presently there are 4.9 months of inventory in Antelope.
