Here are some interesting facts and figures we ran today that corroborate the story of two markets, which we wrote about a few days ago. What exactly did we look at?
We isolated all sales that have taken place from January 1 through June 1 and compared 2008′s performance to 2009′s. The sales were divided up by price bracket. Our goal was to see which price brackets have seen the biggest drops (or rises) in activity since this time last year.
- The number of transactions in the sub $500K range is actually UP from last year… by 21.82%.
- The number of transactions in the $500,000 to $749,000 range is down 13.55% from last year.
- The $750,000 to $999,999 bracket is down 45.02% from last year.
- The $1M to $1,249,000 bracket is down 55.38% from last year.
- The $1.25M to $1,499,000 bracket is down 60.14% from last year.
- The $1.5M to $1,999,999 bracket is down 60% from last year.
- The $2M to $2,999,000 bracket is down the most: 64.89% from last year.
- The $3M to $4.9M bracket is down 41.18% from last year.
- And the $5M+ bracket is down the second most, with a 64.29% decease in transactions from this time last year.
For all price brackets, the number of transactions is down 32% year over year. Since that seems to be the norm, it could be deduced that anything less is a sign of relative strength while anything more is a sign of relative weakness.
Sales on the low end continue to show signs of strength in 2009. Essentially, homes priced less than Read the rest of this entry ?