December 10, 2009
November ‘09 Metro Richmond Homes Sales with ‘08 & ‘07 Comparison
Tuesday, I alluded to the great November we just had and weighed it against the same periods in ’08 and ’07. The chart below vividly illustrates how strong a November we just experienced. November ’09 sales comprised almost 10% of our sales year to date as compared historically to past November sales, which accounted for approximately 6 % of the year to date total. Again, it makes me wonder how much of this activity can be attributed to the $8,000 Tax Credit program, since October was also uncharacteristic of past Octobers. We have not had a ”true” Spring market since 2006. There has to be a tremendous amount of pent up demand on the sidelines. It is just emerging or is it all stimulus driven by the tax credit?
When December ’09 concludes and I report the home sales results, I will then have 4 complete years of compiled data. Yeah, hard to believe I have been reporting on the Richmond Real Estate market that long and probably explains why the Times-Dispatch is teetering on existence. Just kidding, but how real estate is advertised and promoted is light years from the old print media. Over the weekend, I’ll try to post my West End sales numbers, but I’ve got to finish Friday’s Foreclosure Flash first since a deadline is quickly approaching. I can’t have the Foreclosure Friday Flash being posted on Saturday now, can I? Here’s the month to month and year to date chart:
| November |
2009 |
2008 |
2007 |
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| Price Range |
# of Sales |
% of Ttl Sales |
# of Sales |
% of Ttl Sales |
# of Sales |
% of Ttl Sales |
||||||
| 0 – 99,999 |
69 |
9.20% |
54 |
11.4% |
35 |
5.0% |
||||||
| 100,000 – 199,999 |
294 |
39.40% |
160 |
33.8% |
204 |
29.4% |
||||||
| 200,000 – 299,999 |
238 |
32.00% |
120 |
25.3% |
238 |
34.3% |
||||||
| 300,000 – 399,999 |
83 |
11.20% |
62 |
13.1% |
111 |
16.0% |
||||||
| 400,000 – 499,999 |
31 |
4.10% |
33 |
7.0% |
51 |
7.3% |
||||||
| 500,000 – 599,999 |
14 |
1.80% |
13 |
2.7% |
24 |
3.5% |
||||||
| 600,000 – 699,999 |
7 |
1.00% |
14 |
3.0% |
11 |
1.6% |
||||||
| 700,000 – 799,999 |
6 |
0.80% |
7 |
1.5% |
6 |
0.9% |
||||||
| 800,000 – 899,999 |
4 |
0.50% |
3 |
0.6% |
10 |
1.4% |
||||||
| 900,000 – 999,999 |
0 |
0.00% |
4 |
0.8% |
1 |
0.1% |
||||||
| 1 Million plus |
0 |
0.00% |
4 |
0.8% |
3 |
0.4% |
||||||
|
|
|
|
|
|
|
|||||||
| Total Sales/Pct. |
746 |
100.00% |
474 |
100.00% |
694 |
100.00% |
||||||
| YTD thru November |
2009 |
2008 |
2007 |
|||||||||
| Price Range |
# of Sales |
% of Ttl Sales |
# of Sales |
% of Ttl Sales |
# of Sales |
% of Ttl Sales |
||||||
| 0 – 99,999 |
729 |
9.60% |
431 |
5.4% |
485 |
4.3% |
||||||
| 100,000 – 199,999 |
2674 |
35.20% |
2,308 |
29.1% |
3,205 |
28.5% |
||||||
| 200,000 – 299,999 |
2436 |
32.00% |
2,696 |
34.0% |
3,829 |
34.1% |
||||||
| 300,000 – 399,999 |
935 |
12.20% |
1,256 |
15.9% |
1,859 |
16.6% |
||||||
| 400,000 – 499,999 |
397 |
5.20% |
551 |
7.0% |
847 |
7.5% |
||||||
| 500,000 – 599,999 |
209 |
2.70% |
271 |
3.4% |
392 |
3.5% |
||||||
| 600,000 – 699,999 |
104 |
1.30% |
156 |
2.0% |
236 |
2.1% |
||||||
| 700,000 – 799,999 |
62 |
0.80% |
92 |
1.2% |
138 |
1.2% |
||||||
| 800,000 – 899,999 |
27 |
0.40% |
56 |
0.7% |
93 |
0.8% |
||||||
| 900,000 – 999,999 |
16 |
0.20% |
26 |
0.3% |
52 |
0.5% |
||||||
| 1 Million plus |
29 |
0.40% |
83 |
1.1% |
100 |
0.9% |
||||||
|
|
|
|||||||||||
| Total Sales/Pct. |
7618 |
100.00% |
7,926 |
100.00% |
11,236 |
100.00% |