Now that the year 2010 is behind us, let’s take a brief look at how the local Nether Providence real estate market fared in 2010 as compared to 2009.
The biggest factor for the year was the influence of the extension of the Homeowners Tax Credit which affected transactions that went under contract by April 30. The Tax Credit extension front loaded many transactions to the first four months of the year, and was a definite factor in the slowdown of activity after April 30.
| 2009 VS 2010 TOTALS | |||||
| UNITS | AVERAGE | DOM | STL TO ORIG | STL TO LAST | |
| 2009 | 161 | $309,441 | 127 | 91.65% | 95.43% |
| 2010 | 125 | $322,253 | 149 | 92.35% | 95.81% |
| -22.4% | 4.1% | 17.3% | -0.7% | 0.38% | |
There were 36 fewer properties sold during 2010 than 2009, a decrease of 22.4%. The average sale price was up by 4.1%, and as many are aware the time it took to sell a home – Days On Market – DOM – increased substantially by 17.3%. The ratios of selling price to both the original list and last list price were virtually unchanged.
Interested in additional market data for 2010 – just ask
