For all my new friends in Alpine, year over year sales figures. I started my search from January-June 20, 2004 doing year over year comparisons for the same periods in each year, 05, 06, 07 and 08. Alpine is seeing a drastic slowdown from previous years, indeed 2008 numbers most closely track 2005.
In 2004 there were 118 listings, with 31 sales or 26% of new listings selling in an average 102 days on market. In 2005 there were 117 new listings with 37 sales or 31 % of listings selling in 87 days on market. 2006 saw 123 new listings with 47 sales or 38% in 81 days on market. 2007 say 133 new listings with 36 sales or 27% in 90 days on market. Finally, in 2008 for January 1-June 20, there were 127 new listings with 18 sales or 14% in 67 days on market.
You'll note the slowdown in relative number of homes sold, what is perhaps more notable is the average sales price for Alpine. Because Alpine is made up of mostly relatively higher priced homes to most areas, perhaps the effects of a lack of financing opportunities and the slowing economy is taking a bigger toll here than elsewhere. In 2004 90% of homes sold in this period sold for just over $490,000, in 2005 91% sold for over $500,000, in 2006 93% if homes sold for over $600,000, in 2007 91% sold over $700,000, and 2008 plummeted to 77% of homes selling over $500,000. From its high in 2007 to now thats a roughly 29% loss in value.
No comments:
Post a Comment