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Heritage Hill Market Report - Single Family Homes

 

Updated: January 26, 2010
Active Listings: 19
Closed Sales (12 Months) 20
Avg. Sales per Month 1.7
Supply in Months 11
Current Median List Price $155,000
Median Sale Price - 2009 $230,000
Buyer's Market
Neutral Market 6 month supply of homes
Buyer's Market More than 6 month supply
Seller's Market Less than  5 month supply


If you are thinking of making a move, this is an opportune time.  Interest rates will remain low through March and then the Fed will stop buying mortgage backed securities.  The Wall Street Journal predicts mortgage rates will jump at least 1% after the Fed program ends.  The Federal Tax Credit for both first time homebuyers and move up buyers will continue through April.  When both programs end, Forbes predicts a further 10% decline in values.  Advice:  Buyers looking to finance should be active now. Cash buyers should wait until May when credit has tightened. 

Call us if we can be of help -  451-8989

Most Recent Sales

List Price

Close Date

Sale Price

537 Crescent NE $299,900 11/30/2009 $252,500
583 Madison SE $329,900 11/25/2009 $320,000
553 E. Fulton $94,900 10/26/2009 $85,000
159 Lafayette NE $280,000 10/19/2009 $230,000
532 Paris SE $199,900 10/5/2009 $199,500

 

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