November 10, 2009
October ‘09 Metro Richmond Homes Sales with ‘08 & ‘07 Comparison
OMG, is there a pattern emerging? While we certainly aren’t doing the dollar volume of past years, October ’09 marked the first time in 2 years that the month to month comparisons show ’09 unit sales exceeding both ’08 and ’07. October ’09 clipped October ’08 by some 42 % – did you get that? Now this humongous increase might be like shooting fish in a barrel, since a year ago we were in the throes of the financial meltdown; but you need to remember that closed sales in a month are typical instigated 45-60 days prior to recordation. And October ’09 versus October ’07 – why ’09 came in 10% ahead of ’07. Okay, Brick, but a month doesn’t make a year. No question about it, but year to date ’09 trails ’08 by less than 8 % and ’09 continues to narrow the gap with ’07 with deficit now down to less than 35 % of ’07 unit sales. Again, I need to remind you that my numbers are based on units sold. Yes, we are starting to sell more units, but they are lower price points.
For you number junkies, here are the charts:
| October |
2009 |
2008 |
2007 |
|||||||||
| Price Range |
# of Sales |
% of Ttl Sales |
# of Sales |
% of Ttl Sales |
# of Sales |
% of Ttl Sales |
||||||
| 0 – 99,999 |
70 |
8.82% |
43 |
7.72% |
29 |
4.00% |
||||||
| 100,000 – 199,999 |
319 |
40.17% |
183 |
32.85% |
208 |
28.93% |
||||||
| 200,000 – 299,999 |
260 |
32.76% |
180 |
32.32% |
261 |
36.31% |
||||||
| 300,000 – 399,999 |
84 |
10.58% |
85 |
15.26% |
109 |
15.16% |
||||||
| 400,000 – 499,999 |
34 |
4.28% |
25 |
4.49% |
53 |
7.38% |
||||||
| 500,000 – 599,999 |
12 |
1.52% |
24 |
4.31% |
23 |
3.20% |
||||||
| 600,000 – 699,999 |
8 |
1.00% |
7 |
1.26% |
13 |
1.81% |
||||||
| 700,000 – 799,999 |
6 |
0.75% |
4 |
0.72% |
6 |
0.84% |
||||||
| 800,000 – 899,999 |
0 |
0.00% |
0 |
0.00% |
6 |
0.84% |
||||||
| 900,000 – 999,999 |
0 |
0.00% |
2 |
0.36% |
2 |
0.28% |
||||||
| 1 Million plus |
1 |
0.12% |
4 |
0.71% |
9 |
1.25% |
||||||
|
|
|
|
|
|
|
|||||||
| Total Sales/Pct. |
794 |
100.00% |
557 |
100.00% |
719 |
100.00% |
||||||
| YTD thru October |
2009 |
2008 |
2007 |
|||||||||
| Price Range |
# of Sales |
% of Ttl Sales |
# of Sales |
% of Ttl Sales |
# of Sales |
% of Ttl Sales |
||||||
| 0 – 99,999 |
660 |
9.60% |
377 |
5.06% |
450 |
4.27% |
||||||
| 100,000 – 199,999 |
2380 |
34.63% |
2148 |
28.82% |
3001 |
28.47% |
||||||
| 200,000 – 299,999 |
2198 |
31.98% |
2576 |
34.57% |
3591 |
34.07% |
||||||
| 300,000 – 399,999 |
852 |
12.39% |
1194 |
16.02% |
1748 |
16.58% |
||||||
| 400,000 – 499,999 |
366 |
5.32% |
518 |
6.95% |
796 |
7.55% |
||||||
| 500,000 – 599,999 |
195 |
2.83% |
258 |
3.46% |
368 |
3.49% |
||||||
| 600,000 – 699,999 |
97 |
1.41% |
142 |
1.91% |
225 |
2.13% |
||||||
| 700,000 – 799,999 |
56 |
0.81% |
85 |
1.14% |
132 |
1.25% |
||||||
| 800,000 – 899,999 |
23 |
0.33% |
53 |
0.71% |
83 |
0.79% |
||||||
| 900,000 – 999,999 |
16 |
0.23% |
22 |
0.30% |
51 |
0.48% |
||||||
| 1 Million plus |
29 |
0.42% |
79 |
1.06% |
97 |
0.92% |
||||||
|
|
|
|
|
|
|
|||||||
| Total Sales/Pct. |
6872 |
100.00% |
7452 |
100.00% |
10542 |
100.00% |