First of all THANK YOU to all of you who came out to support Children's Miracle Network. Proceeds from every Blizzard sold on August 5th went to help Local Children's Miracle Network Hospitals. In 2009 over $4.6 Million was raised on Miracle Treat Day alone!
After the spike in June with the rush to get things closed prior to the tax credit deadline (it has been extended) things seem to have settled down. Based on the numbers for July it would appear at least locally that the extension had little effect. However estimates nationwide put the number of homeowners who would have missed the credit in the 180,000 range. It will be this Fall before we get a "true" image of the market but expect sales to continue to soften a bit as we go into the 3rd and 4th quarter. Numbers for closed homes July 1 2010- July 31 2010:
Closed: 39
Re-sale: 37 Average Sales Price $194,799 Average Days On Market 149
New Construction: 2 Average Sales price $288,178 Average Days on Market 116
July numbers, while still strong, have slipped a bit from June as mentioned above. This is most likely due to the original expiration date set forth for June 30th. That said...only one more home closed in June of 2010 than June of 2009 so the true impact remains to be seen.
Price range continues to remain critical in O'Fallon. In July 90% of the homes closed were below $300,000. Average price for the $100,000-$199,999 range was $160,784 and for the $200,000-$299,999 was $241,638 no real surprises here.
Looking at numbers for July 2005- July 2010 again shows no great surprise with about an 11% decrease from July 2009-July 2010.
Year to date numbers are stronger over last year, actually 2010 YTD is up 8.5% over the same span for 2009.
More reason for optimism, as of August 6th there are 63 homes under contract in O'Fallon.
Once again we wish to thank you for helping to support CMN if you did not get a Blizzard yesterday, don't panic they make them everyday;) and if you wish to donate you may do so by clicking here.
