LAST UPDATED:December 4, 2007 |
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| Single Family |
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| Condo/Townhome |
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| # Listed | # Sold |
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| # Listed | # Sold |
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2003 | 39,194 | 30,142 | 77% |
| 2003 | 7,531 | 5,539 | 74% |
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2004 | 60,661 | 35,260 | 58% |
| 2004 | 11,306 | 7,581 | 67% |
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2005 | 57,943 | 33,529 | 58% |
| 2005 | 11,474 | 7,872 | 69% |
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2006 | 64,049 | 24,130 | 38% |
| 2006 | 15,589 | 5,826 | 37% |
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2007 | 59,397 | 14,400 | 24% |
| 2007 | 14,522 | 3,109 | 21% |
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Clark County Assessor said population and employment growth should help prop up the city's real estate prospects in 2007 and 2008. What's happened here is the market has corrected itself, and it's just about through doing so
| Fortune magazine's list of 10 housing markets ready for a fall: | ||
| Market | 2007 projected price change | 2008 projected price change |
| Las Vegas | -6.6 percent | -8.1 percent |
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Thanks for the numbers. That unsold inventory is brutal, but 14,400 single family sales may actually beat Santa Clara County, California.
Frank
Your friend in Charlottesville
Arina, both the listed and sold in Single Family and Condo have shifted to SUCH a strong buyers market it is amazing. Either construction and investor speculation got out of control, foreclosures zoomed, or buyers have fled the area or remain on the sidelines. I always like to know the "why" behind the numbers. Hopefully you are at the BOTTOM of the current cycle. The charts are very revealing. In our Dallas market we have something roughly like 50,000+ homes listed but our solds are nowhere as low as 14,000. That's a huge drop from 35,000 in the year 2004.
The Fortune magazine article projection of price depreciation in 2008 being worse than 2007 agrees with some analysts that think it will be until 2009 in some areas of the country before a recovery occurs.