This is the larger picture of what happened in land sales for 2008 compared with 2007. This looks to be just a bit better than what I showed you for the Snowflake / Taylor area...but not by much I'm sorry to say.
I'd like to insert here that I'm not putting this info out there because I'm crying in my soup, and down on life in general, because I'm not. The market is the market, and It'll fix it's self if we can restrain ourselves from trying to manipulate it. I can't say what will happen in the future, but I'm hoping 2009 will be a better year for the White Mountains.
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Parcels listed:
2007 = 2,799
2008 = 3,260
Total sold:
2007 = 997
2008 = 442
Days on the market went up from 167 in 2007 to 185 in '08. That's if it sold.
The average list price went down from $97,592 in '07 to $92,478 in '08, but the average seller had to drop their price by $10,669 to get it sold in '08. While in '07 that number was $6,957. So the average price of a parcel of land dropped $8,826.
The big numbers here are in what sold compared to what was available. In 2007 only 35.62% of the land listings sold. That's tough to take, but in 2008 only 13.56% sold.
I've always said this area is probably a little different from what most people are used to. Many people who want to sell their property here, are only willing to do so at a profit. A lot of the properties in this area are second homes, or investment properties, and that makes for a different climate than what you may observe in places where most of the homes on the market are primary residences. And I think the numbers above support that.
What do you think?
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Submitted by Scott on 12 January 2009 - 1:50pm
Wow - interesting numbers.
Wow - interesting numbers. This is the first time I have seen those stats.
Hello Pete, and thanks for
Hello Pete, and thanks for the comment :))
Scott
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