Antelope Real Estate Market Update: December 2009
As prices edge closer to the point at which they were a year ago with price declines at single digits, home sales are still falling in some areas. Homeowners in those areas are waiting for the sweet spot where prices stop falling and sales begin to level out. Clearly this has not happened in Antelope at this time.
Just 48 homes sold in the area, a 39.4% decline year over year. This decline was mainly because the glut of foreclosed homes is now receding and REO sales themselves declined by 72.2% year over year. So even with short sales gaining ground (25% increase) and non-distressed sales also increasing by 38.5% for the same period, overall unit volume was still down. Two-thirds of the homes are now distressed sales.
Average price per square foot is not $118.86 down 3.4% year over year from a high of $123.10. Average sales price fell 10.1% from $215,952 a year ago to $194,069 this December. Median sales price sits at $195,250.
Inventory in Antelope is at 4.2 months.
Posted in Market Updates |
