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February 2008

January 2008

Posted at 2:58 PM, Feb. 1, 2008

The first month of 2008 was surely nothing to write home about - unless you don't like to write about good things. Three houses and three lots closed escrow. Those were carryovers from escrows opened in 2007. The total value of those transactions was $2,345,400. Total new escrows included just 4 land transactions. The market value of those transactions was $832,000. The final numbers for 2007 were 67 land transactions valued at $12,290,815 and 45 home transactions valued at$20,916,405. This put the total market at about $33,000,000 which is below our norm of around $40,000,000. Our inventory levels are quite high at this time. The five year average of homes sold is 43. With 64 homes on the market, we have an 18 month supply. Sellers are encouraged to consider carefully their asking price or else be faced with their home remaining on the market for an extended period of time.