November 20, 2008

Property Transfers: Prices are falling in Racine County

First, here are the Property Transfers for Nov. 10-14.

Second, last week I compared a few sales prices to the county assessment and suggested that home values were not falling in the county. A few commenters with backgrounds in the real estate business jumped in to say that wasn't accurate, and a few days later the Wisconsin Realtors Association backed them up.

The median sale price in this year's third quarter (July, August and September) fell 6.6 percent to $154,500 compared to last year. The total number of home sales dropped from 597 last year to 484 sales this year; the 484 sales was the lowest total number for any third quarter dating back to 1997.

In other words, fewer people are selling their homes, and when they do, they're selling them for less than home owners were a year ago.

If you want to see the data yourself, click here.

No comments:

Post a Comment