STEVE’S STAT’S – NOVEMBER 2011

Posted on November 2, 2011 by JA/LEX Real Estate in Affordable Homes For Sale Chambersburg real estate Shippensburg real estate Shippensburg rentals

STEVE’S STAT’S - NOVEMBER 2011Brought to you by – JALEX Real Estate Services

Number of Active Listings in the Shippensburg school district area (per MRIS MLS system): 160
Number of Homes Sold in the period (3 months): 51
Absorption rate = # of homes sold / period (3 months): 17
Month’s supply of homes = Total active listings / Absorption rate: 9.4

(6 is considered balanced market conditions, 6 is a seller’s market and above 6 is a buyer’s market)

Total homes sold on the past 30 days, Shippensburg school district: 8
Median sales price: $129,000
High sales price: $188,000
Low sales price: $57,900
Median days on the market for all sold homes in the past 30 days: 110

Snow for Halloween!?  It appears winter has set in upon us here in the Shippensburg, Pa area.  Winter generally results in slower sales in the Shippensburg real estate market.  Especially after Thanksgiving when thoughts turn to Christmas and New Year’s.  The month’s supply of homes is higher than last month at 9.41 which is still at a lower point than at times during the past year where we had seen numbers up to 12 and 13!  The Absorption rate is at close to the lowest point that it has been for a while.  However, only 8 houses were sold in Shippensburg in the past 30 days.  And there were not too many listed for sale either. 
So as a buyer, what does this mean to you?  Well, winter has set in, the market has slowed down and rates continue to be at the lowest levels ever!  It would appear that now is a great time to purchase your home here in the Shippensburg area.  Especially given the motivation factor of seller’s who are facing the beginning of a long winter where home values are as uncertain as ever.  I guess the only reason you would not buy your home now is becasue of the uncertainty with regards to home proces.  Why buy now?  Wait and get a better deal right?  We do not have a crystal ball that’s for sure so if you want to “roll the dice” we’ll see you when you are ready!  Otherwise, could it really get much better than this?
As a Home seller, again winter is here!  You know it’s a good time to buy real estate.  You know it is not the most oppotune time to sell.  You have seen the news reports and have heard the stories of distresses home owners.  Here is the deal, the buyers are waiting for the bottom which may or may not be here.  The current real estate market is not one where you make money!  Simply put.  Many Realtors are not going to tell you that becasue they need business and telling you the truth might result in you not wanting to sell real estate.  This current market is about minimizing loss.  My question for you is this…what do you have to earn by keeping that list price that high?  When you realize you need to sell are you going to wish you had dropped the proce sooner resulting in a higher price for your property?  And what about the house that you want to purchase?  The rates are low now but they could go up.  And waiting on the market to provide an additional $5000 sale price on your current home may cost you that and more on the home that you want to buy.
Just some food for thought.  Again, thanks for allowing JALEX to be your Shippensburg and Chambersburg real estate sales and services provider.  We are working hard to be the best we can be!  Give us a call at 477-9326 if we can be of service.

JALEX Real Estate Services
717-477-9326 Office