Growing up my mother always had interesting statistics and facts concerning childhood and other various life skills. When I challenged her words of wisdom and demanded the disclosure of where she got this information from my answer would be...”well...that’s what ‘they’ say...”
To present day, as a real estate professional, I continually have the general public asking me about the real estate market in Brooks and quoting facts and statistics that have been heard from this mystical group ‘they’.
As a teaser – here is some statistics. (Statistical data collected from the Brooks real estate board (RASCA)
-In the recent "good" years of real estate (2006-Sept 1, 2008) in the Brooks and County of Newell region - 65% of properties that have been put up for sale have sold. Since September 2008 only 40% of the homes listed have sold. This means that our market in the last 7 months has experienced a drop of 25%! However, this number reflects a drop in the number of sales not the sales price.
-The average sales price has increased by 6% when comparing the year 2008 and the first 3 months of 2009.
So what does it all mean? It means these are statistics. There is no such thing as a national market, there really isn’t such thing as a localized market (but is much more relavent), your house is worth what other similar properties have sold for and ultimately....as ‘they’ say... “..your house is worth as much as someone is willing to pay for it.”
The real estate market in Brooks will be a trying year. Home sales will happen and statistics are showing that sellers are negotiating more (down 3% from 97% (5 year average) to 94%) now than in recent history. There is also significant competition which helps in stabilizing the prices and helps prevent bidding wars. My final thought is that the “good” houses are still selling quickly – a “good” house is defined as a saleable home at a saleable price. The right real estate associate will help you in establishing that saleable price.
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