Posted by: Todd Long | March 20, 2008

Iredell County Market Trends

Taking a look at the market area between Mooresville and Statesville from $100,000-$250,000 I see that we are up 30% in inventory (houses on market) from last year this time.  We are down 31% in closings (buyers in the market).  Of course this isn’t a good sign!  The good news is we are trending down in houses coming on the market.  We haven’t seen a significant rise in the houses coming on the market for the past 5 months.  That is good.  Usually this is the time of year we see a significant rise of inventory.  But, what we need are buyers.

It is interesting that buyers are still deciding to sit on the sideline during a time that we have low unemployment, wages are rising, interest rates are a historical lows and there are tons of choices in the market.  Also our market are has some of the most affordable housing prices in the United States.  I would still be surprised if we don’t see our local market see a significant rise of home sales by this fall.

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Responses

  1. Todd, the last two times I called CSS to schedule a showing I was put on hold. The time before that, the background chatter was deafening. It sounds to me like the buyer activity is picking up in our market. The call center is certainly experiencing a lot of activity. I hope that means more buyers!


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