3rd Quarter 2007' vs 2006'
- Sales of new construction homes were down 33 units and $6.667M in volume from 2006'
- Sales of existing homes were up 32 units and $6.630M in volume from 2006'
- Total 3rd quarter units were only down 1 unit from 2006 and only $36,937 in volume
Additional Comments:
The Southwest area continues to be the "hot" area and has been for quite some time followed by the Northeast which continues to be a viable section for growth. As per past posts regarding this subject my opinion has not changed; Existing sales are really carrying this market and new construction is hurting Boone County and in a big way! Although it seems prices are beginning to stabilize (given YTD prices of $175,390 vs. $175,814 for 2006') there is still a plethora of new construction homes on the market. However the market is still down significantly from the "hay day" of 2004' and 2005'.
YTD 2007' vs. 2006'
- New construction numbers are down 150 units and $30.1K in volume from 2006'
- Existing home numbers are up 20 units and $6.52M in volume from 2006'
- Total YTD numbers are down 130 units and $23.6M in volume from 2006'
Additional Comments:
Of the three 3rd quarter months August proved to be the best and July the worst, so if you take those figures to heart and apply a little logic perhaps Boone County and in particular Columbia may see us coming out of this "slump" in 2008'? Only time will tell but the numbers are leading me to think this way although I still predict the "new construction" figures to be hurting but hopefully not to the extent they have the past two years.
NOTE: All figures were supplied by the Columbia Board of Realtors (Residential Single-Family Sales By Month)
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