September home sales down

Sat, 23 Oct 2010 12:02:26 -0600

When I woke up this morning and checked the outdoor temperature, the thermostat read 31 degrees. But by mid-day the temperature reached a high of 64 degrees. If you live in Wisconsin, you're accustomed to the dramatic weather changes - many times occuring in the same day. But what does this have to do with the price of real estate, do you say?
Well, just like I didn't dress myself in long underwear for the day after checking the temperature during that 'snapshot in time' this morning, don't interpret the local real estate market based on one month of sales. Pick a longer period of time and look for trends. With weather, we more often look at 3-7 day forecasts. In real estate, you're better off looking at a period of several months (or years) or that period compared to a similar period of time the previous year.

In Wednesday's La Crosse Tribune, Steve Cahalan reported on home sales in La Crosse County lacrossetribune.com/article_f93b4406-dbf0-11df-a080-001cc4c03286.html and referred to the recent Wisconsin REALTORS® Association 3rd Quarter report http://www.wra.org/online_pubs/press_releases/2010/monthly_reports/october_2010.html. Sales are down between 30.9% (tatewide) and 31.9% (a Crosse County) for the month of September versus the same month in 2009. However, September 2009 included the first-time home buyer tax credit incentive whereas this past September did not. Sales in the 1st and 2nd Quarters of 2010, up 16.8% ad 19.4% rspectively, were just the opposite when compared to those same periods the previous year - the result of a similar "tax-credit effect". Year-to-date sales for 2010 are down 4 percent statewide, with median prices down 0.8%.&bsp; In La Crosse County, median sales prices have actually held steady throughout the year and show a 4.1% icrease in September over the previous year.  See how these 'snapshots in time' and constrasting statistics could give you different impressions of what's happening in the market? And we haven't even started looking at activity in different price ranges, areas, or parts of town.

So how do you gain perspective on the real estate market? Ask an expert who makes their living by knowing the market. A full-service, Coldwell Banker River Valley sales professional is a great resource for just such information. Whether it's year to year, period to period, or comparing the local market to the state and national markets, your Coldwell Banker River Valley REALTOR® can help you see the trends, assess the market and competition, and help you make an informed decision.

CB River Valley

September home sales down