SOLDS - Week of Feb.16 through Feb. 22
"SOLD" tells it all.
Looking over the listings that sold last week, a trend becomes increasingly clear: consumers are looking for a deal, and $150,000 or below is where a property owner gains the attention of buyers. Take a look at the sold data for the week of February 16-22, 2010.
|Location / Property Type||Original List Price||Current List Price||SOLD Price||Days on Market|
|3bd/1ba on city lot||$89,500||$89,500||$72,000||155 (5+months)|
|2bd/1ba on city lot||$145,000||$119,000||$110,000||373 (over a year!)|
|2bd/1ba on city lot||$139,000||$139,000||$135,000||12|
|Commercial Lot||No data||$85,000||$60,000||185|
|4bd/3ba on city lot||No data||$305,000||$305,000||141|
|1bd/1ba on city lot||No data||$119,000||$110,000||808 (2+ years!!?)|
Of particular note is that with one exception, the sold properties in Coos County are priced significantly under $150,000. Again with one exception, these properies are residential.
We keep hearing, even from other real estate professionals, that this is a "lousy market". Here at our office, we're not so sure. There are two sides of eacj real estate market, and this market is an exciting one. Buyers who were priced out of the market in the last five years (especially in the Bandon area of Coos County) are now able to step in and purchase homes. The difference is that these buyers are savvy and informed, making sellers take a hard look at pricing their properties realistically.
Property is selling.
Written By: Rushel Reed, Broker