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Everything about Clarke Real Estate
Everybody is asking "What's up with Real Estate?" People are hearing the news that NOW is the time to BUY and that investors are grabbing up the best deals in many, many years. Everyone always likes to see hard facts and numbers so I will happily comply. I will try NOT to overload you though.
According to our MRIS MLS, In the last 4 months there were 36 closings in all of Clarke! The least expensive was a mobile home on a lot for $52,500 and the most expensive is $1,450,000 in Millwood on 64 acres + a great barn. The Avg days on the market is 212. (This does NOT include each and every property that were relisted as a result of changing agents etc...) The Avg SOLD price is $399,913. The Avg ORIGINAL LIST price VS. Avg FINAL list price is 82%. At closing on Avg the seller paid $2,636 of the buyers closing costs. The 36 Solds break down like this: 8 in Boyce, 2 in Millwood, 4 in Bluemont. 24 in Berryville. 0 in White Post. 0 in Paris.
Currently there are 151 residential properties for sale in our MRIS MLS in all of Clarke. The least expensive is $99,900 (total fixer upper) and the most expensive is $3,500,000 (big house on 22 acres in Paris). Of those listings 12 are CURRENTLY under contract. Of those 12 the least expensive has an ASKING price of $189,900 a Ranch on 1/2 acre and the most expensive is $1,150,000 on 3 acres. Of these 12 contracts, the Avg days on the market was 121. The ORIGINAL list price had been reduced 3 1/2 percent before accepting the contract. I cannot say or see what the negotiated sales price is until closing. This statistic tells me sellers are being more receptive to today's pricing and not months past and buyers are buying old and new, big and small.Overall I see good news here! I see a strong end of 07 and a good start of 2008. IRONICALLY there were also 36 SOLDS between the same 4 month time spread in 2006-2007! Average time on the market was 130 days then. The Avg sold price then was $368,370. Comparing today with 1 year ago the Avg SOLD price is up $31,443!!! Rates are quickly coming down and placing people in a position to buy homes they could only dream of 2 years ago. I am in the biz of making dreams come true! Everyone is welcome to e-mail me at myREALTORrichie@mris.com or call JBR Inc. at 955-4602 and ask for Richie. This is one of my first blogs for the Times Papers so I want to hear what people think and your ideas on new topics to discuss. Thanks for your time!
Very interesting information. Hopefully the market will start turning around.
Posted by S_Hrenner
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